LONDON (dpa-AFX) - Misys Plc (MSY.L, MUSJF.PK) said that the Scheme Court Hearing, which was scheduled to take place on May 10, is to be adjourned until May 28.
It was on 19 March that the Independent Directors of Misys and the directors of Magic Bidco Ltd. announced the terms of a recommended cash acquisition of Misys by Bidco, an investment vehicle indirectly owned by the Vista Funds, pursuant to which Bidco will acquire the entire issued and to be issued ordinary share capital of Misys.
On 24 April, the Scheme, and its implementation, were approved by the requisite majority of Scheme Shareholders at the Court Meeting and of Misys Shareholders at the General Meeting respectively.
The process in respect of the acquisition required to be made under the Portuguese antitrust regime was expected to complete in time to permit the Scheme Court Hearing to take place on May 10. It is now uncertain that this process will be completed within the expected time period.
The applicable waiting period under Portuguese Law No. 18/2003 of 11 June 2003, as amended, and the regulations thereunder, has not yet expired, lapsed or been terminated but will do so by no later than May 25.
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