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
Gas explosion in Fresno in California injured 11 people on Friday afternoon. Pacific Gas and Electric Co. (PG&E) said workers who are not affiliated with the company have struck a 12-inch natural gas transmission pipeline and the gas leaked was ignited due to the dig-in. Verizon Communications' FiOS TV service has modified its programming bundles and will now offer new packages so that users can subscribe only for channels they prefer to watch. Instagram, the photo sharing app owned by Facebook, has updated its community guidelines to disallow nudity and harassment in uploaded photos and pictures, as well as cyber bullying.
comments powered by Disqus
Follow RTT