Santa Clara, California, October 30th / PRNewswire / -- Palo Alto Networks (Nasdaq ticker: PANW) announces that today it received a non-binding tender offer from Tutanota LLC ("Tutanota") to acquire up to 250,000 shares of Palo Alto Networks common stock for $450.00 in cash per share. This offer represents approximately 0.03% of Palo Alto Networks of the company's outstanding common stock.
Palo Alto Networks indicates that the company does not acknowledge this unsolicited offer from Tutanota, and it has no association with Tutanota, its offers, or any related offering documents.
The company stated that the offer price of $450.00 per share is subject to certain conditions, including that on the last trading day before the offer expires, the closing price of Palo Alto Networks common shares must be above $450.00 per share. This means that unless Tutanota waives this condition, the shareholders of Palo Alto Networks who deliver their shares under this offer will receive a price below the market value. Tutanota allows the offer to be extended for 45 to 180 days consecutively; in such cases, the payment will be postponed beyond the original expiration date. Shareholders who have already delivered their shares may notify the company to withdraw their shares before the offer expires in accordance with the methods specified in the Tutanota offer document. The current expiration date is Monday, November 2, 2026, at 5:00 p.m. Eastern Time, unless extended.
Since the number of targets for the tender offer by Tutanota is less than 5% of the outstanding common shares of Palo Alto Networks, it is not subject to many of the disclosure and procedural requirements in the rules of the U.S. Securities and Exchange Commission (SEC) that are intended to protect investors. SEC has reminded investors about such tender offers, stating that "some bidders may make tender offers at prices lower than the market price, and investors may be caught off guard if they do not compare the offer price with the current market price." Information regarding such offers can be found on their website: https :// www.sec.gov / investor / pubs / minitend.htm.
The company advises shareholders to obtain the latest market quotes for their shares and to consult with brokers or financial advisors, and to be cautious regarding offers for Tutanota.
Palo Alto Networks also encourages brokers, traders, and other market participants to refer to SEC regarding the letter on the distribution and disclosure of margin calls by brokerage traders: https :// www.sec.gov / divisions / marketreg / minitenders / sia072401.htm.
Palo Alto Networks Requests that in all distributions of materials related to the tender for Palo Alto Networks ordinary shares targeting Tutanota, a copy of this press release be attached.
About Palo Alto Networks
Palo Alto Networks (Nasdaq ticker: PANW) claims to be a global leader in AI network security. It protects digital lives through a comprehensive set of network security solutions and platform combinations that cover networks, cloud, security operations, AI, and identity management. Relying on Unit threat intelligence from over 42 sources, the company provides support to more than 75,000 customers. Its AI platform is designed to eliminate complexity, helping businesses modernize with greater confidence and ensuring the speed of innovation. For more information, visit www.paloaltonetworks.com.
Palo Alto Networks and its logos, namely Palo Alto Networks and Inc, are trademarks in the United States and certain judicial jurisdictions around the world. Other trademarks, service marks, or trade names mentioned in this text are the property of their respective owners. Any services or features not yet released (as well as any services or features not yet generally available to customers) mentioned in this text or in other press releases or public statements are currently not available or not yet widely provided, and may not be launched as anticipated, or may not be launched at all. Customers purchasing the Palo Alto Networks application should make their purchase decisions based on the services and features that are currently widely available.
