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.
-
8 of the best houses for sale with annexes
The best houses with annexes – from a period property in the Lake District to a 13th-century house with a two-bedroom annexe in Saltwood, Kent
By Natasha Langan Published
-
Zelenskyy moves to appease Donald Trump – what happens now?
Ukraine’s president Volodymyr Zelenskyy is conceding ground to secure the least-worst deal possible, says Emily Hohler
By Emily Hohler Published