In a press release published today on its website, Misys notes the announcement made by CVC and ValueAct Capital and confirms that it is currently in discussions with them regarding a possible offer for the Company’s entire outstanding share capital for cash. Misys also continues to be in discussions with Vista Equity Partners and Temenos Group AG as set out in the announcements dated 20 February 2012 and 7 February 2012 respectively. As a consequence of ValueAct Capital’s involvement as a potential joint offeror with CVC, Misys has formed an independent committee of the board of directors, which excludes Jeff Ubben, to consider all of the proposals before it.
In accordance with Rule 2.6(a) of the Code, CVC must, by no later than 5.00pm on 2 April 2012, announce a firm intention to make an offer for Misys in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline will only be extended with the consent of the Panel in accordance with Rule 2.6(c) of the Code.
There can be no certainty that any offer will ultimately be made nor as to its terms. Further announcements will be made as and when appropriate.