Filing Flows › Vistance Networks (VISN) › Takeover & LBO
Is Vistance Networks (VISN) a takeover target?
A leveraged buyout at today's price plus 30% ($7.93 a share) would return about 12% a year to a private-equity buyer over 5 years; no price, however low, gets a buyer to 20%. Historically 3.1% of companies with its figures were bought within a year (0.61× the average).
The buyout, step by step
| Entry | Amount | How |
|---|---|---|
| Offer price a share | $7.93 | today's $6.10 plus 30% |
| × shares | 233.8 million | |
| = Equity value | $1.9B | |
| + Debt refinanced | $0 | |
| − Cash | $114M | |
| = Enterprise value | $1.7B | 8.0× EBITDA of $217M |
| Fees | $34.8M | 2% of the price |
| New debt | $1.1B | 5.2× EBITDA at 7.65% a year; the limit that binds: 65% of the price |
| Buyer's own money | $644M | 36% of the cost |
5 years under the buyer
| Year | Revenue | EBITDA | Interest | Free cash flow | Debt left |
|---|---|---|---|---|---|
| Year 1 | $3.2B | $234M | $86.5M | $74.1M | $1.1B |
| Year 2 | $3.4B | $250M | $80.9M | $94.3M | $963M |
| Year 3 | $3.6B | $264M | $73.7M | $115M | $848M |
| Year 4 | $3.7B | $275M | $64.9M | $136M | $712M |
| Year 5 | $3.8B | $283M | $54.4M | $157M | $555M |
The exit and the buyer's return
| Exit | Amount | |
|---|---|---|
| Exit multiple | 6.1× EBITDA | today's trading multiple, before any premium |
| Enterprise value at exit | $1.7B | |
| − Debt left | $555M | |
| = Buyer's equity | $1.2B | |
| Money multiple | 1.80× | on $644M put in |
| Buyer's yearly return (IRR) | 12.5% |
Price against return
What the buyer makes at other premiums over today's $6.10.
| Premium | Price a share | Buyer's IRR |
|---|---|---|
| 10% | $6.71 | 21.5% |
| 20% | $7.32 | 17.0% |
| 30% | $7.93 | 12.5% |
| 40% | $8.54 | 8.0% |
| 50% | $9.15 | 4.2% |
The figures used
| Figure | Amount | |
|---|---|---|
| Revenue, last 12 months | $2.9B | |
| EBITDA, last 12 months | $217M | 7.4% of revenue |
| Depreciation and amortization | $186M | |
| Capital spending | $46.4M | |
| Debt | $0 | |
| Cash | $114M | |
| Share price | $6.10 | on Oct 23, 2026 |
Fixed rules, the same as the interactive view's starting point: the shares are bought at today's price plus 30%, the company's debt is refinanced and fees take 2%. New debt is the least of 5.5× EBITDA, 65% of the price and the amount whose interest EBITDA covers 2 times, at 7.65% a year (SOFR 3.89% plus the high-yield B spread 3.26% plus 0.5%, rates of Oct 15, 2026). Revenue grows 8.0% in the first year — the company's own rate, held between −3% and +8% — fading to 3% by year 5; the EBITDA margin, depreciation and capital spending stay at today's share of revenue; working capital takes 10% of each year's added revenue; tax is 12% of profit after interest. Every dollar of free cash flow repays debt. After 5 years the buyer sells at today's multiple of EBITDA.
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, Vistance Networks would cost about $7.93 a share, $1.9B for all its shares.
| Premium | % | Price a share | All shares |
|---|---|---|---|
| Low end (a quarter of deals paid less) | 12% | $6.83 | $1.6B |
| Median | 30% | $7.93 | $1.9B |
| High end (a quarter paid more) | 31% | $7.99 | $1.9B |
The odds, from history
Historically 3.1% of companies with its figures were bought within a year (0.61× the average). Its figures put it in decile 2 of 10 (10 = the most likely to be bought). The odds come from a model of every merger proxy, tender-offer response and going-private statement filed on EDGAR since 2011, set against each company's size, margins, debt, cash flow and growth the year before.
Vistance Networks' latest quarter
Vistance Networks, Q3 2026: revenue $320M (-38% year over year), operating margin 7.2%, net earnings $1.0B, operating cash flow −$57.5M. The chart follows the revenue to costs, profit and cash.
Questions
Is Vistance Networks being acquired?
No headline, 8-K or 13D about a sale is on file in the last year.
Could private equity buy Vistance Networks?
A leveraged buyout at today's price plus 30% ($7.93 a share) would return about 12% a year to a private-equity buyer over 5 years; no price, however low, gets a buyer to 20%.
What would a takeover of Vistance Networks 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, Vistance Networks would cost about $7.93 a share, $1.9B for all its shares.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.