February 13, 2020 / 1:48 PM / 13 days ago

Instructure rejects increased takeover bid from Thoma Bravo -sources

NEW YORK, Feb 13 (Reuters) - U.S. educational software company Instructure rejected a sweetened bid from private equity firm Thoma Bravo and will delay the meeting for shareholders to vote on the deal by one day, sources familiar with the matter said on Thursday.

Thoma Bravo, which originally offered $47.60 for Instructure, boosted its offer by 90 cents a share but the company chose not to accept the higher bid, the sources said.

Shareholders were originally scheduled to vote on the deal on Thursday but the company has delayed the meeting where the vote will take place until Friday, the sources said.

Reporting by Svea Herbst-Bayliss; editing by Jason Neely

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