03:51 PM EDT, 09/16/2024 (MT Newswires) -- (Updates with additional details in the third paragraph and attempt to reach out for comment.)

Blackstone (BX) and Vista Equity Partners are nearing a deal to acquire Smartsheet ( SMAR ) that could value the software company at close to $8 billion, Reuters reported Monday, citing people familiar with the matter.

The companies are in advanced talks on an offer of around $56 per share for Smartsheet ( SMAR ), Reuters reported, citing the sources, who added that the deal could be inked in the coming weeks.

Vista Equity and Blackstone are exploring debt financing options for the transaction, the sources reportedly said.

Blackstone, Vista Equity and Smartsheet ( SMAR ) did not immediately respond to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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