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
GOP strategist Karl Rove has criticized U.S. President-elect Donald Trump's comments on aircraft maker Boeing Co.'s contract for a new Air Force One plane, saying they were inaccurate and de-stabled the stock of a major company. Air Force One is the official air plane for the U.S. President. Elon Musk's space transport company SpaceX has lost a satellite launch order from one of its customers due to the delay in its rocket launch schedule after one of its rockets exploded in September. Free meals in coach might soon make a comeback on Delta Air Lines Inc. The Atlanta-based airline said it is testing complimentary meals in the main cabin on transcontinental flights between JFK International Airport in New York and Los Angeles International Airport or San Francisco International Airport.
comments powered by Disqus
Follow RTT