Allscripts Healthcare Solutions Inc. (MDRX) on Tuesday said that Misys plc has issued a press release regarding recent events at Lehman Brothers. In connection with the proposed transactions contemplated by an Agreement and Plan of Merger dated as of March 17, 2008 by and among Allscripts, Misys, Misys Healthcare Systems, LLC and Patriot Merger Company, LLC, Lehman Brothers committed to a $305 million term and revolving credit facility agreement dated March 19, 2008 with Misys in order to fund a portion of the $330 million payment by Misys to Allscripts contemplated by the Merger Agreement.
Misys has stated that it has been unable to confirm whether Lehman Brothers would be able to fulfill its role under the facility and has therefore commenced the process of identifying other funding alternatives and is in discussions with several other debt providers. Allscripts plans to adjourn its 2008 annual meeting of stockholders scheduled for September 22, 2008 to October 6, 2008, the same date to which Misys has determined to adjourn its extraordinary general meeting.
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