UK software firm Blue Prism agrees to Vista’s $1.63 bln final takeover offer
Nov 25 (Reuters) – British robotics software firm Blue Prism (PRSMB.L) has agreed to a 1.22 billion pound ($1.63 billion) final takeover offer from U.S. non-public fairness firm Vista Equity, the events mentioned on Thursday, topping a proposal from SS&C Technologies (SSNC.O).
The elevated 1,250 pence-per-share money offer from Bali Bidco Ltd, a firm not directly owned by Vista, comes amid objections from activist investor Coast Capital, which has supported U.S.-based SS&C’s proposal.
Bali Bidco mentioned it should fund the deal via present money assets.
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Blue Prism administrators have unanimously beneficial shareholders to vote in favour of the Vista deal at conferences scheduled for Dec. 9.
SS&C final week made a 1.16 billion pound takeover strategy to the British software firm.
Blue Prism, which counts automaker Daimler (DAIGn.DE), eBay (EBAY.O) and Britain’s National Health Service amongst its clients, initially agreed to be taken over by Vista in September for 1.09 billion kilos. learn extra
U.S.-based Coast Capital, which holds a stake of round 2.8% in Blue Prism, objected to Vista’s proposal, saying the sale course of was flawed. Blue Prism defended the deal, saying it was higher than persevering with as a standalone firm. learn extra
Shares of Blue Prism ended about 0.6% larger at 1,215 pence on Thursday, earlier than Vista’s revised offer was made after the market shut.
($1 = 0.7506 kilos)