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
Social media app Snapchat has introduced a new location service, Snap Map, that will allow users of the app to see the location of all their friends on a map. The new feature will essentially allow a user to see where his friends are hanging out and what they are up to and also share his own location with friends in real time. The U.S. has suspended all imports of fresh beef from Brazil due to recurring concerns about the safety of the products. The suspension of shipments from Brazil, the fifth largest exporter of beef to the U.S., will remain in place until the Brazilian Ministry of Agriculture takes corrective action, the U.S. Department of Agriculture or USDA said in a statement. The annual Federal stress test was cleared by 34 top banks. The result shows strong capital levels and the ability of large banks to remain capitalized even in stressed situations. The Federal Reserve noted that these banks will be able to lend to households and businesses even at severe recession and throughout the economic cycle.
comments powered by Disqus
Follow RTT