City merger watchdog the Takeover Panel is also treating the substance of the deal as a takeover, the Daily Mail can reveal.
The resulting firm, whether or not it is still called Temenos, will have a market value approaching £2bn – a level that could one day put it in a position to enter the FTSE 100 index.
On the day talks between the two were announced, Misys’ market valuation was £1.1bn, higher than the £852m valuation of Temenos.
But earlier this week it emerged that the combination of the firms would see the current chief executive and chairman of Temenos moved straight across to the same jobs in the new group.
Misys will get to nominate five of the nine members of the company’s board, and will keep chief finance officer Stephen Wilson in his role.
Could this new event stop the deal?
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