LONDON (dpa-AFX) - Misys Plc (MSY.L, MUSJF.PK) said that the Portuguese antitrust process has been completed and the conditions contained in paragraphs 2(c) and (e) of Part A of Part 3 of the Scheme Document relating to the Portuguese antitrust process have been satisfied.
Misys and Magic Bidco Ltd. can therefore confirm that the adjourned Scheme Court Hearing will take place on May 28, 2012 and the Capital Reduction Court Hearing will take place on May 31 without risk of further delay. Subject to the satisfaction or waiver of the remaining Conditions and the approval of the Court, Misys and Bidco can further confirm that the Scheme will become effective on June 1 and consideration will be dispatched to shareholders by no later than June 14.
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 9 May, Misys and Bidco announced that the process in respect of the acquisition required to be made under the Portuguese antitrust regime was not expected to complete in time to permit the Scheme Court Hearing to take place on the scheduled date of May 10 and that accordingly the Scheme Court Hearing was to be adjourned until May 28.
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© 2012 AFX News
