Misys takes another step closer to sale -UPDATE
Misys's investors were given some good news on Monday when the High Court of Justice made an order approving the scheme through which Vista Equity Partners will acquire the UK financial software company.
Misys's investors were given some good news on Monday when the High Court of Justice made an order approving the scheme through which Vista Equity Partners will acquire the UK financial software company.
The hearing outcome enables the sale of Misys convertible bonds. The court now needs to confirm the associated capital reduction at a court hearing being held on May 31st.
Back in March, Misys, a financial software developer, announced that it had reached a $2bn agreement on the terms of a recommended 350p-per-share cash offer by Magic Bidco, an investment vehicle indirectly owned by Vista funds.
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 company is still on track to exit the stock market by the start of June.
NR
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.
-
Reeves warned against property tax shake-up – 3 ways it could backfire on first-time buyers
Rachel Reeves reportedly has her eye on high-end property taxes in the upcoming Budget, but there are concerns a shake-up could unintentionally hamper those trying to get on the housing ladder
-
Average Brits want to retire five years before they can – who has the widest retirement gap?
Brits are expecting to work for longer than ever but there are big disparities in the number of extra working years predicted. A small tweak could help close the gap