It looks like there will not be a bidding war for financial software developer Misys as CVC Capital Partners and ValueAct Capital Master Fund, which had been considering throwing their hat into the ring, have confirmed they will not be making a bid.
A joint bid by the pair has been under consideration since the beginning of March, but with the Misys board giving the thumbs-up to the bid from Magic Bidco, an investment vehicle indirectly owned by funds managed or advised by private equity group Vista Equity Partners, CVC and ValueAct have withdrawn from the hunt.
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'We face a £6m inheritance tax bill under Reeves's changes – it's sheer terror'Thousands of families fear they’ll have no option but to look at selling their firms in a fire sale to pay inheritance tax bills, due to Rachel Reeves’s changes to business property relief
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