logo
Share SHARE
FONT-SIZE Plus   Neg

Misys And Bidco Finalise Terms For Proposed Cash Acquisition By Bidco

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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Computer and printer maker Hewlett-Packard Co. said Thursday after the markets closed that its second quarter profit fell 21% from last year, hurt by lower revenue and costs related to the planned separation of the company. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations, but its quarterly revenue fell short of analysts' forecast. Accounting software maker Intuit reported a plunge in third-quarter profit, hurt by impairment charges, even as results topped Wall Street estimates, driven by growth in small business segment amid a strong tax season. Struggling teen-apparel retailer Aeropostale Inc. (ARO), Thursday said its first-quarter loss narrowed from a year ago, driven largely by stronger margins even as revenues continued to plunge dropped. Nevertheless, the company lost almost one-fifth of its market value in after-hours trade, with the...
comments powered by Disqus
Follow RTT