M&A
confidence high
sentiment positive
materiality 0.90
Intuit to acquire Mailchimp for ~$12B in cash and stock; deal accretive to FY22 EPS
INTUIT INC.
- Total consideration ~$12B; 50% cash, 50% Intuit stock at fixed $562.61/share; plus ~$300M in assumed employee RSU bonuses.
- Transaction expected to close before end of Intuit's fiscal Q2 2022, subject to regulatory approvals and customary conditions.
- Mailchimp has 13M total users, 2.4M MAU, 800K paid customers, and 50% of users outside US.
- Intuit expects to finance cash portion with ~$4.5-5.0B of new debt; no change to dividend or buyback policy.
- Intuit to issue $200M in RSUs to Mailchimp employees post-close as retention; deal not subject to financing condition.