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4/4/2018, 8:19 PM (Source: TeleTrader)
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SS&C reportedly enters race for Fidessa

SS&C Technologies Holdings Inc., maker of financial services solutions, expressed the intention to acquire Fidessa Group Plc in a twist after the London-based firm agreed to sell itself to Temenos Group AG of Switzerland, the Financial Times wrote on Wednesday, quoting anonymous sources. Earlier, the target entity's management postponed a stockholder event where the initial deal was scheduled to be approved. It has revealed representatives of two investors entered the race in the meantime.

The existing agreement worth £1.4 billion in total consists of £35.67 in cash per share plus a dividend of 79.7 pence, while Fidessa stated one of the new bidders bumped up the equity component to £37.5. It remains unclear whether the said company based in Windsor, Connecticut, is the one or the other. SS&C is already in the process of taking over DST Systems Inc. for $5.4 billion.

Activist hedge fund operator Elliott Management Corp. lifted its ownership of Fidessa near 5%, the news outlet said it learned.

Breaking the News / IT