Traders Bet ForgeRock Deal Likely to Succeed Before DOJ Decision

Traders are betting ForgeRock Inc.’s proposed sale to Thoma Bravo LLC is more likely to go through than not, with a key regulatory decision due in the next day.

Shares of the software provider rose as much as 3.2% to $21.88 on Monday, moving them closer to the private equity firm’s takeover offer at $23.25. The $2.3 billion deal is in focus as the US Justice Department is deciding whether to challenge the case in court, with an Aug. 22 deadline to file a lawsuit.

Read: Thoma Bravo Extends ForgeRock Deal Closing to Forestall DOJ Suit

The gap between ...