SS&C Extends Deadline For GlobeOp Deal

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.


In Depth

AIMA: Smaller Firms Remain the Lifeblood of the Hedge Fund Industry

Jul 26 2017 | 5:55pm ET

It is a hedge fund industry truism that the largest managers receive the most attention...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Rastegar: PE Real Estate Gains Momentum as Uncertainty Rises

Jul 21 2017 | 6:04pm ET

The steady march of equity markets and fundamental shift in the direction of Fed...