Misys plc (“Misys” or “the Company”) and Temenos Group AG (“Temenos”) extension to deadline in accordance with Rule 2.6(c)
In accordance with Rule 2.4(c) of the Takeover Code (“the Code”), Temenos was required, pursuant to Rule 2.6(a) of the Code, by 5.00 p.m. on 6 March 2012 (the “relevant deadline”), to either announce a firm intention to make an offer for Misys, under Rule 2.7 of the Code, or announce that it does not intend to make an offer for Misys.
In accordance with Rule 2.6(c) of the Code, at the request of the Board of the Company, the Panel on Takeovers & Mergers (the “Panel”) has consented to an extension of the relevant deadline, until 5.00 p.m. on 2 April 2012 to enable the parties to conclude their ongoing discussions. There is no certainty that at the end of this period an offer for the Company will be made, nor as to its terms.
Few minutes ago, on the Temenos website the following Press Release was published:
TEMENOS GROUP AG (“TEMENOS”) STATEMENT REGARDING EXTENSION TO TAKEOVER CODE DEADLINE – Temenos http://j.mp/zBBGtg