Breaking News
FONT-SIZE Plus   Neg
Share SHARE

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.

Click here to receive FREE breaking news email alerts for Misys plc and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Consumers spent less in July than in the previous month, a surprise retreat that complicates the prevailing belief that the U.S. economic situation is improving. Along with the unexpected drop in spending, government figures released on Friday showed that incomes rose at a slower pace in July than in the previous month. Meanwhile, data on prices indicated that inflation pressures remain tame. India's economy grew faster-than-expected in the three months to June and at the strongest pace in two years, preliminary figures from the Central Statistics Office revealed Friday. Gross domestic product grew 5.7 percent in the April to June quarter, which exceeded economists' forecast for 5.5 percent expansion. The economy grew 4.6 percent in the previous three months. Eurozone inflation slowed as expected in August on falling energy prices giving room for the central bank to support demand and economic recovery without stoking inflation and help the region to create more jobs. The unemployment rate remained unchanged at an elevated level in July. Nonetheless, it was at the lowest since September 2012.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.