Palo Alto Networks to acquire CyberArk for 2.2005 PANW shares plus $45 cash per share

Palo Alto Networks Inc

Merger consideration: 2.2005 PANW shares + $45 cash per CyberArk share; cash from balance sheet.
CyberArk shareholders must approve; expected close by July 30, 2026 (possible extension to Oct 30, 2026).
Termination fees: CyberArk pays $750M if it backs out for superior proposal; PANW pays $1B if regulatory issues prevent close.
Boards of both companies unanimously approved; CyberArk board recommends to shareholders.
Transaction subject to customary conditions including HSR and Israeli regulatory approvals.

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