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Fidessa pushes back Temenos vote as talks with Ion, SS&C continue
As discussions continue with Ion and SS&C about possible alternative takeover offers, Fidessa has put back the date for shareholders to vote on the agreed offer with Temenos to 27 April.
Fidessa said Thursday's scheme court meeting and the general meeting to approve the Temenos acquisition were adjourned in order to allow Fidessa to explore in more detail possible offers from Ion and SS&C.
Under the terms of the offer from Switzerland's Temenos, Fidessa shareholders would receive 3,646.7 per share, comprising 3,567p in cash and the 79.7p dividend.
But earlier this week, the FTSE 250 financial technology group said it has received two superior approaches from third parties later revealed as Ion Investment Group, SS&C Technologies, who were said to be considering making an offer that trumps the one made by Temenos.
One of the latest offers made would see its shareholders receive 3,892.7p per share in cash and dividends, which is a 5% premium to the Temenos bid.
"Fidessa remains in discussions with ION and SS&C about possible alternative offers for Fidessa. There can be no certainty that an offer will be made by either ION or SS&C, nor as to the terms of any offer," it said.
Fidessa said Thursday's scheme court meeting and the general meeting to approve the Temenos acquisition were adjourned in order to allow Fidessa to explore in more detail possible offers from Ion and SS&C.
Under the terms of the offer from Switzerland's Temenos, Fidessa shareholders would receive 3,646.7 per share, comprising 3,567p in cash and the 79.7p dividend.
But earlier this week, the FTSE 250 financial technology group said it has received two superior approaches from third parties later revealed as Ion Investment Group, SS&C Technologies, who were said to be considering making an offer that trumps the one made by Temenos.
One of the latest offers made would see its shareholders receive 3,892.7p per share in cash and dividends, which is a 5% premium to the Temenos bid.
"Fidessa remains in discussions with ION and SS&C about possible alternative offers for Fidessa. There can be no certainty that an offer will be made by either ION or SS&C, nor as to the terms of any offer," it said.
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