Misys takeover inches closer
The takeover of financial software firm Misys by Vista Equity Partners came a step closer on Monday after it passed a legal hurdle in Portugal.
The takeover of financial software firm Misys by Vista Equity Partners came a step closer on Monday after it passed a legal hurdle in Portugal.
Mysis announced the $2bn takeover deal in March but said it was first subject to a monopoly probe in Portugal.
It has now passed the hurdle and proceeds to a UK "scheme court hearing" - which would enable the sale of Misys convertible bonds - on May 28th, followed by a "capital reduction court hearing" on May 31st.
Subscribe to 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
Uncertainty over the 350p a share bid have caused problems for sales at Misys.
"The uncertainty is very real for our customers, who want to know who will own a business before they commit to spending millions on a very critical banking system," Tom Kilroy, acting Chief Executive of Misys had said previously.
The current timetable will see Misys shares disappear from the stock market at the start of June.
Sign up for MoneyWeek's newsletters
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.
-
Trouble brews in B&M as bargain shops take a hit
Opinion Once a stock market darling, B&M's share price has slumped. What has gone wrong for bargain shops?
-
US and China reach a ceasefire in their trade war after talks in London
The US and China's trading relationship – the most important one in the global economy – is back on track. Will the truce last?