Filing Flows › Fastly (FSLY) › Takeover & LBO
Is Fastly (FSLY) a takeover target?
A leveraged buyout does not work for Fastly on its latest figures: it has no positive EBITDA to borrow against (−$9.2M over the last 12 months, on revenue of $719M).
Why a leveraged buyout does not fit
A leveraged buyout is paid for mostly with debt that the company's own cash flow repays. Fastly's EBITDA over the last 12 months was −$9.2M on revenue of $719M, so there is nothing to lend against and nothing to repay a loan with: a buyer would have to pay almost entirely with its own money. That is the kind of deal another company — a strategic buyer that wants the products, the pipeline or the technology — makes, not a private-equity fund. The model therefore gives no buyout price.
What a takeover could cost
Takeovers in its sector paid a median premium of 30% over the share price before the deal (the middle half 12% to 31%), according to the 14 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, Fastly would cost about $34.36 a share, $5.5B for all its shares.
| Premium | % | Price a share | All shares |
|---|---|---|---|
| Low end (a quarter of deals paid less) | 12% | $29.60 | $4.7B |
| Median | 30% | $34.36 | $5.5B |
| High end (a quarter paid more) | 31% | $34.62 | $5.5B |
Fastly's latest quarter
Fastly, Q3 2026: revenue $190M (+20% year over year), operating margin -5.9%, net loss $11.3M, operating cash flow $40.0M. The chart follows the revenue to costs, profit and cash.
Questions
Is Fastly being acquired?
No headline, 8-K or 13D about a sale is on file in the last year.
Could private equity buy Fastly?
A leveraged buyout does not work for Fastly on its latest figures: it has no positive EBITDA to borrow against (−$9.2M over the last 12 months, on revenue of $719M). With no cash flow to repay a loan, a buyer would pay almost entirely with its own money: a deal for another company (a strategic buyer), not for a private-equity fund.
What would a takeover of Fastly cost?
Takeovers in its sector paid a median premium of 30% over the share price before the deal (the middle half 12% to 31%), according to the 14 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, Fastly would cost about $34.36 a share, $5.5B for all its shares.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.