GBST opts to go with SS&C
Financial services technology provider GBST looks set to go with a takeover bid by Nasdaq-listed SS&C after being the subject of offers from both Bravura and New Zealand-based FNZ.
GBST outlined the situation to the Australian Securities Exchange (ASX) today with the company’s chairman, Allan Brackin stating that board remained of the view that the best interests of the company would be served by going with SS&C.
He said a revised non-binding indicative proposal from SS&C entailed a $3.60 per share proposal via a scheme of arrangement and was subject to an expedited period of exclusive due diligence.
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