Wednesday, 30 July 2014
Last updated 11 hours 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.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…