Misys faces takeover delay in Portugal
Financial software firm Misys says its takeover by Vista Equity Partners will be delayed by a legal hold-up in Portugal.
Financial software firm Misys says its takeover by Vista Equity Partners will be delayed by a legal hold-up in Portugal.
The 350p a share deal was announced back in March and approved in April but it now appears the Portuguese monopoly probe process will take longer than first thought.
Although Portugal is a very small part of Misys's business, the group felt it had to get approval from the Portuguese authorities before completion.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The UK "scheme court hearing" - which would enable the sale of Misys convertible bonds - was supposed to take place on May 10th, but it is now expected on May 28th, followed by a "capital reduction court hearing" on May 31st.
This means the scheme will actually begin on June 1st. The deadline for acceptance is June 7th, with payment being sent out on June 14th.
BS
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
5 alternatives to Reeves’ inheritance tax raid on rural Britain as families face ‘splitting up or selling’ farms
Inheritance tax limits are now so low they attack small working family farms rather than just going after tax loopholes, one Cotswolds farmer has said
-
High earners at risk of £65k retirement shock
High earners could face some of the biggest pension shortfalls when they retire, as the cost of maintaining an expensive lifestyle could erode their retirement savings