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
Economic confidence in the eurozone picked up in October from a 10-month low, with broad based improvement across sectors, the results of a survey by the European Commission showed Thursday. The economic confidence index rose unexpectedly to 100.7 in October from 99.9 in the prior month. The score was expected to fall to 99.7. Visa Inc., the world's largest payment card processor, said Wednesday that its fourth quarter profit fell 10% from last year, hurt mainly by a hefty litigation provision even as revenue increased 9%. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly revenue. Stocks saw considerable volatility following the Federal Reserve's monetary policy meeting on Wednesday but maintained a negative bias before closing modestly lower. The losses on the day partly offset the rally seen in the previous session.
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.