Private Equity Firms Compete to Acquire DocuSign

Private equity firms Bain Capital and Hellman & Friedman are in a bidding war to acquire DocuSign Inc, a provider of online signature services with a market value of about $12.5 billion. Blackstone Inc, another buyout firm, is no longer in contention. The outcome of the auction is expected in the coming weeks, and it's possible that the competing firms may partner to clinch a deal. DocuSign's shares rose 9.3% on the news, and the company reported a rise in quarterly adjusted earnings and revenue. This potential acquisition is set to be one of the biggest leveraged buyouts of 2024.