Misys' shares slip as suitors back off

Misys' shares slip as suitors back off

Misys' shares have arrested their slide after losing 7.5% of their value Tuesday after the banking-to-healthcare software company said it had not received any worthwhile takeover proposals despite opening its books to prospective suitors.

The independent board committee charged with overseeing the sale of the company says that discussions are continuing with interested parties. However, with the stock idling at 231.5 pence, the prospects for a 275 pence a share bonanza looks increasingly unlikely.

Companies reportedly running the rule over the books include Fiserv, and private equity outfits Permira and General Atlantic, acting in concert with the incumbent management team. SunGard, which had formerly expressed an interest, is understood to backed out of the bidding.

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