CVC Capital Partners Ltd. and ValueAct Capital Master Fund, L.P. confirmed that they do not intend to proceed with an offer for Misys Plc (MSY.L, MUSJF.PK).
On March 5, 2012, funds advised by CVC and ValueAct had announced that they had concluded an agreement to work together with a view to making a recommended joint cash offer for Misys.
On March 19, Magic Bidco Ltd., an investment vehicle indirectly owned by funds managed or advised by Vista Equity Partners, LLC had announced a firm intention to make an offer for Misys pursuant to Rule 2.7 of the City Code on Takeovers and Mergers.
by RTT Staff Writer
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