logo
Share SHARE
FONT-SIZE Plus   Neg

Vista Equity Partners May Make GBP 1.3 Bln Offer For Misys

Private equity firm Vista Equity Partners is reportedly planning to make a 1.3 billion pounds ($2.1 billion) offer for UK-based banking software maker Misys Plc (MSY.L, MUSJF.PK), Bloomberg said.

San Francisco-based Vista may offer 350 pence per share for Misys, which is also considering a joint offer from CVC Capital Partners Ltd. and ValueAct Capital, the largest shareholder in Misys.

Misys was also in merger talks with Geneva, Switzerland-based rival Temenos Group AG. However, last week the company confirmed that talks with Temenos ended as the parties were unable to agree on the final terms of a transaction.

Misys also added then that it continues to be in discussions with Vista, CVC Capital Partners Ltd. and ValueAct Capital.

Misys has formed an independent committee of the board of directors to consider all proposals before it.

Vista has to announce its plans about the offer for Misys before the U.K. market closes today, although a firm offer may not be disclosed.

MSY.L closed on Friday at 325.18 pence, up 2.68 pence, on a volume of 2.65 million shares.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
International Business Machines Corp. said Monday after the markets closed that its first quarter profit fell 2.4% from last year, as improved margins could not offset a 12% decrease in revenue. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations, but its quarterly revenue fell short of analysts' forecast. Norway is all set to shut down FM radio in 2017, Radio.no reported. The Nordic country will be the first to scrap as it plans a shift to Digital Audio Broadcasting. The trailer of Star Wars: The Force Awakens, the latest installment from epic space film franchisee created by George Lucas, has sent both fans and Disney investors into a frenzy. Walt Disney Co.'s (DIS) market capitalization, which now owns the Star Wars franchisee, was boosted by about $2 billion...
comments powered by Disqus
Follow RTT