SS&C Makes Formal Bid For GlobeOp

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 TPG has not withdrawn its weaker offer, but has received only 4.61% support from shareholders.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.


In Depth

An Interview With Harvest Volatility Management's Rick Selvala

Mar 23 2017 | 5:39pm ET

Several years of extremely low interest rates have pushed some investors into equities...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

SEI: Private Debt Coming Into Its Own

Mar 8 2017 | 9:24pm ET

The explosive growth of private debt over the past few years has caused the lines...