Thursday, 18 December 2014
Last updated 9 min ago
Apr 24 2012 | 5:50am ET
Despite the fact that it no longer has any competition, SS&C Technologies will have to wait a little longer to consummate its deal for hedge fund administrator GlobeOp Financial Services.
Yesterday was SS&C's deadline for investors to accept its US$922 million offer for GlobeOp. But even though private equity firm TPG Capital announced on Friday that it would not attempt to top SS&C's price, shareholders representing only 24.9% of GlobeOp's outstanding shares voted for the SS&C deal.
Of course, the nearly 44% of shares already pledged to the TPG deal will not become available to SS&C until that bid formally lapses tomorrow. SS&C requires 70% approval.
SS&C said today that it had extended its deadline until May 8.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.