27th Apr 2018 12:14
LONDON (Alliance News) - FTSE 250-listed trading and investment management software developer Fidessa Group PLC said Friday that it has adjourned the shareholder meeting in relation to the takeover offer by Temenos, with the intent that the offer will lapse on Saturday.
Last Friday, ION Capital UK Ltd confirmed it had made a GBP38.703 proposal in cash for each of Fidessa's 40.1 million shares, an offer that is lower than Fidessa's current market price, to which Fidessa accepted.
The proposed share price values Fidessa at about GBP1.50 billion with shareholders entitled to a final dividend and special dividend for 2017 totalling 79.70 pence each.
German software firm Temenos' made an offer in February worth GBP35.67 per share in cash, valuing Fidessa at around GBP1.4 billion. In response to ION's offer and Fidessa's agreement to it, Temenos said it would not amend the terms of its offer.
Shares in Fidessa Group were up 0.1% at 3,940.00 pence on Friday.
Related Shares:
Fidessa Group