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 TPG has not withdrawn its weaker offer, but has received only 4.61% support from shareholders.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

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...