Did Bankrate Rush Through The Apax Deal? SEC Picking Over Details

The Deal Professor on NYTimes.com raises some great questions on the Bankrate’s sale deal to Apax Partners, after combing through the tender offer SEC filings. Among the main points raised: the management seems to want to push through the deal with Apax, and may not have gone through a full bidding process. The other firm interested was Warburg Pincus. Also, the company board and management may not have given enough time to the disinterested directors to discuss the deal. He also redlines through the various SEC documents to highlight the discrepancies with some of the previous filings from the company (embedded after the jump).

But here’s the key point:

“The Apax proposal of $30 per Bankrate (NSDQ: RATE) share arrived on June 16