08:57 AM EDT, 08/14/2024 (MT Newswires) -- Squarespace ( SQSP ) stockholder Glazer Capital said Wednesday it intends to vote against the proposed $44 per share acquisition of Squarespace ( SQSP ) by Permira.

The investment firm, which owns 5.4% of Squarespace's ( SQSP ) minority shares, said the offer is "inadequate" and the process leading to the acquisition was biased in favor of Squarespace's ( SQSP ) controlling shareholders and Permira.

The firm also alleged that the proposed merger price is a "significant undervaluation" compared to valuation benchmarks used in similar transactions.

Squarespace ( SQSP ) and Permira did not immediately respond to requests for comment from MT Newswires.

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