logo
Share SHARE
FONT-SIZE Plus   Neg

Misys Shareholders Approve Acquisition By Vista Equity Partners - Quick Facts

Misys Plc (MSY.L, MUSJF.PK) confirmed Tuesday that its shareholders have approved an offer from Vista Equity Partners to acquire the total issued share capital of the company for an offer price of GBP 3.50 per share. The level of approval exceeded 99% of the votes cast.

Vista has stated that it believes that Misys has an attractive future that it intends to invest in.

The transaction will see Vista bring together the Misys business with Turaz, a provider of trade and risk management software globally, creating the global leader in core banking, treasury management, capital markets and enterprise risk management software.

The company said that Court and Regulatory processes will now proceed and the Scheme of Arrangement is expected to become effective on 15 May 2012.

Completion of the Scheme remains subject to the High Court of Justice of England and Wales sanctioning the Scheme, the hearing in respect of which is expected to take place on 10 May 2012, and confirming the Reduction of Capital, the hearing in respect of which is expected to take place on 14 May 2012.

In early April, Funds advised by CVC Capital Partners Ltd. and ValueAct Capital Master Fund, L.P. had confirmed that they have no intention to proceed with an offer for Misys, clearing way for US-based private equity firm Vista Equity Partners, LLC to buy the British banking software firm for 350 pence per share.

On March 19, Misys agreed to a 1.3 billion pounds or $2 billion firm offer made by San Francisco-based Vista after ending talks with Switzerland-based rival Temenos Group AG.

It was early in March that CVC and ValueAct, the largest shareholder in Misys, announced their intention to make a recommended joint cash offer for Misys.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Outrage in the business world may be helping re-shape a new Indiana law that many are calling "anti-gay." Embarrassed and worried about the backlash from the national business community, the state's paper of record is loudly calling on legislators to re-word the law. The front page of the Indianapolis... 'Booth babes' will not be seen at the RSA Conference scheduled to be held next month, as the exhibitors have added a new clause to its rules that ban revealing clothes. Although, RSA did not use the term "booth babe," its contract clearly explains that staff deployed at booths should wear business... Election fever has gripped the UK as Prime Minister David Cameron on Monday urged his people to prudently choose either a prosperous future under his Conservative Party or economic ruin under the Labour Party headed by Ed Miliband.
comments powered by Disqus
Follow RTT