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

GSAM's Papagiannis: Liquid Alternatives For The Long Run

Apr 21 2017 | 8:44pm ET

Interest in liquid alternatives cooled a bit last year amid a broad shift in investor...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Debunking Conventional Investment Wisdom (Part II)

Apr 17 2017 | 5:56pm ET

The alternative investment industry is currently replete with buzzwords around data...

 

From the current issue of