These guys must really be pessimistic about their future if they are accepting a deal of $86/share. Their 52 week high was $96/share, and as high as $120/share last year.
The problem is that since then their growth has completely stalled out and is projected to be under 5% for both this year and next year.
While their revenue tops out over $1B their net profit is pretty slim.
Post acquisition expect to see a lot of cuts to improve cash flow as operations are slashed across the board, and depending on how the acquisition is funded it won't be a surprise to see the company burdened with a bunch of debt.
Then PE will either try to return cash through net income, or more likely than not relist the company after two - five years when the restructuring is complete and the company has a more financially interesting profile, akin to what happened with Ping Identity.
In an ideal world they will also try to increase revenue growth as well, so I wouldn't be surprised to see some more price increases coming down the line as well.
"On January 31, 2017, we completed our Merger with a wholly-owned subsidiary of Citrix, pursuant to which we combined with Citrix’s GoTo family of service offerings known as the GoTo Business. Following the completion of the Merger, our revenue grew to over $1 billion on an annualized basis in fiscal 2017 and we added over 1,600 employees." - https://q10k.com/LOGM
So the consensus is what it is given normal volume, likely a relatively small chunk of shares changing hands repeatedly rather than a really large block being sold once. The latter would almost certainly depress the price.
If this was a private company/startup, of course you'd be laughing all the way to the bank. Not so if you were a public investor in LogMeIn. Far from it.
Looks like it was only $96/share because there was rumors of this sale.