20th Apr 2018 09:31
LONDON (Alliance News) - ION Group Investment Ltd on Friday confirmed it had made GBP38.703 proposal in cash for trading and investment management system firm Fidessa Group PLC, an offer that is lower than Fidessa's current market price.
Fidessa shares were up 0.9% on Friday at 4,035.00p each, giving the company a market capitalisation of GBP1.57 billion.
Earlier in April, Fidessa had confirmed in had received two further expressions of interest on top of a February offer from Temenos Group.
It identified the two other suitors as ION and SS&C Technologies Holdings Inc. Fidessa said the ION proposal was 3,829.70 pence per share in cash, but gave no details on SS&C's proposal.
ION has confirmed it has made an approach worth GBP38.703 per share in total, with Fidessa shareholders entitled to a final dividend and special dividend for 2017 totalling 79.70p.
It stressed, however, there was no certainty of an offer for Fidessa. It has a deadline of 1700 BST Friday to make a firm offer, as announced before.
German software firm Temenos' offer was worth 3,567.00p per share in cash, valuing Fidessa at around GBP1.4 billion. Fidessa shareholders will meet Friday next week to vote on the Temenos offer.
Related Shares:
Fidessa Group