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 TPG has not withdrawn its weaker offer, but has received only 4.61% support from shareholders.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

Kettera Q&A: The Advantages of Alternative Investment Platforms

Oct 28 2016 | 5:52pm ET

The past several years have seen a distinct push towards easier and cheaper access...

Lifestyle

Midtown's Plaza District Fades As Manhattan Office Landscape Shifts

Nov 22 2016 | 6:32pm ET

Lower leasing costs, more efficient office space and the hope of projecting an image...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR