With Capital Levels High and Stocks Low, Going-Private Deals Rise


More U.S. public companies are going private as deal makers look to use the capital they have built up to buy targets made more attractive amid recent stock-market declines.

A handful of deals announced or completed so far in 2022—including for social-media company

Twitter Inc.

and software firm

Citrix Systems Inc.

—appear to be setting the stage for another busy year in which public companies are acquired by either private-equity firms or a controlling shareholder and delisted from stock exchanges.

By the end of last year, the number of these take-private transactions were on the rise as PE firms and investors had access to cash and debt and interest rates stayed low. There were 47 such deals made last year, up from 33 in 2020 and the highest total since 2010, according to financial data firm Dealogic. This year through Tuesday, that tally stands at 26, compared with 17 during the same time period last year. The value…

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