Citrix ticks lower on report debt sale for buyout delayed until September
JHVEPhoto

Citrix Systems (NASDAQ:CTXS), which agreed in January to a $16.5 billion sale to Vista Equity and Elliott Management, ticked down 0.6% after a report that a $15 billion debt sale for the acquisition has been delayed until after the U.S. Labor Day holiday.
The debt sale, which is being led by Bank of America, is pushed back to due to volatile markets, according to traders, who cited a Bloomberg report. The investors are betting that September will offer a better environment for selling the debt. 
The update comes after Bloomberg reported last Tuesday that BofA had started to canvas investors to see their interest in part of $15B in debt for the buyout. 
M&A investors have been concerned in recent months on leveraged buyouts due to stock market volatility, especially after tech PE firm Thoma Bravo reduced its takeout price for Anaplan last month. In addition last month Zendesk agreed to sell itself to a PE consortium at a price almost half of what it turned down in February.
Tom Krause, who resigned as president of Broadcom Inc.'s (AVGO) software group last Monday, is set to become the CEO of the company being formed by the combination of Citrix and Tibco Software.