According to Reuters, Temenos and its UK competitor Misys said on Tuesday had agreed to a number of key terms on a possible all-share merger that could create one of the world's largest standalone financial software companies.
Few hours ago, a Tweeter announced that the major stakeholder of Misys agreed to the terms.
The exchange ratio will be 4.1 Misys shares to 1 Temenos share, leaving Misys shareholders with 53.9 percent of the combined group and Temenos shareholders with 46.1 percent after accounting for options outstanding but excluding Misys' convertible bond.
To be followed closely