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UPDATE 1-Entrust says Thoma Bravo raises offer to $124 mln

Fri Jul 10, 2009 8:47am EDT

* Says agrees for $2 per share offer

Stocks  |  Mergers & Acquisitions

* Shares rise 8 pct before the bell

July 10 (Reuters) - Security software maker Entrust Inc ENTU.O said private equity firm Thoma Bravo LLC raised its cash offer to buy the company by 8 percent to $2 per share, or $124 million.

The increased offer represents a 9 percent premium to the stock's closing price on Thursday.

On April 13, Thoma Bravo had agreed to acquire Entrust for $1.85 per share, or $114 million.

If Entrust shareholders fail to approve the deal, Thoma Bravo is entitled to get a termination fee of $2 million, it said in a statement.

Entrust shares were up 8 percent at $1.97 in pre-market trade Friday. They closed at $1.83 Thursday on Nasdaq.

For alerts, double click [ID:nWNAB6088] (Reporting by Mansi Dutta in Bangalore; Editing by Gopakumar Warrier)

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