근접센서 Blue Prism takeover curbed as US investment firm gatecrashes deal
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Blue Prism found itself in demand after its £1.1billion takeover was gatecrashed by a US investment firm.
The Warrington-based software company had previously agreed to be acquired by American private equity firm Vista Equity Partners for 1,125p per share.
However, the firm has now received an approach from Connecticut-based SS&C Technologies worth 1,200p per share.
Payday: Blue Prism chief exec Jason Kingdon (pictured) and co-founders Alastair Bathgate and David Moss could earn £130million between them under the Vista deal
SS&C is the world's largest hedge fund and private equity administrator, providing fund management and training services to the financial sector.
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Its founder, former KPMG executive William Stone, set it up in 1986 and is worth £2.2billion.
Blue Prism is evaluating the SS&C proposal, although there is no guarantee at this stage that the offer will be made official. If confirmed, the bid will value the company at £1.17billion.
The firm also postponed a meeting, originally scheduled for Friday, to approve the Vista deal in order to ‘explore further the approach from SS&C'.
A deadline for a firm offer is expected to be set before the end of the year.
Blue Prism's shares shot up 8.9 per cent, or 100p, to 1220p on the back of the news.
The firm may see the SS&C approach as a chance to escape growing investor criticism over the Vista deal.
Last month, activist investor Coast Capital, which owns a 2.8 per cent stake in the firm, accused the company of selling itself on the cheap and ssplaywin claimed management only agreed to the sale because of the huge payday on offer.
Chief executive Jason Kingdon and co-founders Alastair Bathgate and David Moss could earn £130million between them under the Vista deal.
The takeover also sparked outrage in Warrington as Vista has said there will be job cuts following the deal.
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The Warrington-based software company had previously agreed to be acquired by American private equity firm Vista Equity Partners for 1,125p per share.
However, the firm has now received an approach from Connecticut-based SS&C Technologies worth 1,200p per share.
Payday: Blue Prism chief exec Jason Kingdon (pictured) and co-founders Alastair Bathgate and David Moss could earn £130million between them under the Vista deal
SS&C is the world's largest hedge fund and private equity administrator, providing fund management and training services to the financial sector.
RELATED ARTICLES
Previous
1
Next
Branson sells another £224m of his space flight firm to prop... Aussie fuelling a green revolution: Billionaire mining... ALEX BRUMMER: Royal London plays the long game in battle for... Rival insists LV can remain as a mutual as war of words...
Share this article
Share
HOW THIS IS MONEY CAN HELP
How to choose the best (and cheapest) DIY investing platform and stocks and shares Isa
Its founder, former KPMG executive William Stone, set it up in 1986 and is worth £2.2billion.
Blue Prism is evaluating the SS&C proposal, although there is no guarantee at this stage that the offer will be made official. If confirmed, the bid will value the company at £1.17billion.
The firm also postponed a meeting, originally scheduled for Friday, to approve the Vista deal in order to ‘explore further the approach from SS&C'.
A deadline for a firm offer is expected to be set before the end of the year.
Blue Prism's shares shot up 8.9 per cent, or 100p, to 1220p on the back of the news.
The firm may see the SS&C approach as a chance to escape growing investor criticism over the Vista deal.
Last month, activist investor Coast Capital, which owns a 2.8 per cent stake in the firm, accused the company of selling itself on the cheap and ssplaywin claimed management only agreed to the sale because of the huge payday on offer.
Chief executive Jason Kingdon and co-founders Alastair Bathgate and David Moss could earn £130million between them under the Vista deal.
The takeover also sparked outrage in Warrington as Vista has said there will be job cuts following the deal.
DIY INVESTING PLATFORMS
Easy investing
Stocks & shares Isa
£1.50 fund dealing
0.25% fee on fund holdings
Investment ideas
Free fund dealing
Free fund dealing
0.45% account fee capped for shares
Flat-fee investing
No fees
From £4.99 a month
Trade shares and funds for £3.99
Social investing
Social investing
Share investing
30+ million global community
No account fee
Investment account
Free share dealing
Free fractional share*
Affiliate links: If you take out a product This is Money may earn a commission. This does not affect our editorial independence. *T&Cs apply.
> Compare the best investing platform for you
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