10:53 AM EDT, 07/19/2024 (MT Newswires) -- (Updates to include more details after the first paragraph.)

KKR (KKR) has emerged as the frontrunner to acquire Instructure Holdings ( INST ) in a deal that could value the education software company at around $4.7 billion, including debt, Bloomberg reported Friday, citing people with knowledge of the matter.

Sources told Bloomberg that the companies are in talks over an offer of about $24 per share from KKR and there is no guarantee that discussions will lead to a sale. Instructure Holdings ( INST ) shares closed Thursday at $25.24.

KKR is up against Francisco Partners in the bid for Instructure Holdings ( INST ), Bloomberg added.

KKR, Instructure Holdings ( INST ), and Francisco Partners did not immediately respond to MT Newswires' requests for comments.

Shares of Instructure Holdings ( INST ) were down by nearly 6% in recent trading at $23.75.

(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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