Breaking News
FONT-SIZE Plus   Neg
Share SHARE
mail  E-MAIL

Misys And Bidco Finalise Terms For Proposed Cash Acquisition By Bidco

3/19/2012 3:22 AM ET

Misys Plc (MSY.L) Monday announced that the independent directors of the company and the directors of Magic Bidco Limited have reached agreement on the terms of a recommended cash acquisition of Misys by Magic Bidco Limited, pursuant to which Bidco will acquire the entire issued and to be issued ordinary share capital of Misys.

Magic Bidco Limited, or Bidco, is an investment vehicle indirectly owned by the Vista Funds.

As per the terms of the acquisition, the entire existing and to be issued ordinary share capital of Misys has been valued at approximately 1.266 billion pounds. Each shareholder of Misys would be entitled to receive 350 pence per Misys share.

The consideration payable under the Acquisition will be funded through a mixture of equity financing provided by the Vista Funds and debt funding from third party providers of debt finance to the Bidco Group.

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
Chipmaker Advanced Micro Devices Inc. said Thursday after the markets closed that its first quarter loss narrowed from last year, helped by strong revenue growth in its graphics and visual solutions business. The company's quarterly earnings per share, excluding items, also came in above analysts' expectations as did its quarterly revenue. After trending higher over the past few sessions, stocks showed a lack of direction throughout the trading day on Thursday. The major averages spent the session bouncing back and forth across the unchanged line before ending the day mixed. While the major averages closed on opposite sides of the unchanged line, they all showed only modest moves. U.S. Secretary Of State John Kerry said Thursday that he and his counterparts from Russia, Ukraine and the European Union have reached an agreement on a preliminary plan for ending the ongoing crisis in Ukraine. Kerry was speaking at the end of the Ukraine contact group's first meeting, comprising the foreign ministers of Russia, Ukraine, the EU and the U.S., in the Swiss city of Geneva.
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.