Monday, 6 July 2015
Last updated 1 hour ago
Mar 26 2012 | 2:35pm ET
SS&C Technologies has made its offer for hedge fund administrator GlobeOp Financial Services official.
Windsor, Conn.-based SS&C has given GlobeOp shareholders until April 23 to accept its $818 million offer. That's slightly more than a month after TPG Capital's offer for the administrator, which SS&C topped earlier this month by 11%.
It is unclear whether TPG plans to challenge the SS&C offer, which has been recommended by GlobeOp's board of directors. TPG has not withdrawn its weaker offer, but has received only 4.61% support from shareholders.
SS&C will move forward with the acquisition if it wins the support of 70% of GlobeOp shareholders.
SS&C has been conducting its due diligence on GlobeOp since January, when the administrator put itself up for sale due to low share price.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…