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Tibco Investors Lose $100M Over Spreadsheet Goof

Law360, Los Angeles (October 16, 2014, 10:16 PM EDT) -- Tibco Software Inc. shareholders will be paid roughly $100 million less than anticipated in private equity firm Vista Equity Partners' planned $4.3 billion purchase of the business software company, due to an error on a spreadsheet, according to a Thursday regulatory filing.

California-based Tibco told the U.S. Securities and Exchange Commission that its adviser Goldman Sachs Group Inc., in a Sept. 27 presentation to Tibco's board of directors, used a spreadsheet with a share count that overstated Tibco's fully diluted common stock by the number of...
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