2nd Aug 2018 10:46
LONDON (Alliance News) - ION Capital UK Ltd said Thursday it received valid acceptances in respect of 90% of Fidessa Group PLC shares, ahead of an acquisition of the entire capital of the company.
London-based trading software provider Fidessa in April agreed to a GBP1.50 billion, or GBP38.703 per share, cash offer from Irish company ION Capital, which became unconditional at the end of June. Fidessa shares were trading down 0.1% at 3,860.00 pence each on Thursday.
ION said it is planning to acquire the remaining shares in respect of which the offer has not been accepted once the offer becomes unconditional.
Completion of the offer remains conditional on the approval by UK regulator the Competition & Markets Authority, which in June decided to consider whether the acquisition of would lessen competition in the financial services sector.