ValueAct Capital acquires Misys stake

ValueAct Capital acquires Misys stake

Shares in Misys have firmed up on news that private equity group ValueAct Capital, the former employer of its incoming CEO Mike Lawrie, has acquired a 4.4% stake in the UK business.

Misys shares rose 2.4%, or 4.75 pence, to 205 pence yesterday and the stock continued to inch up this morning on speculation that ValueAct's acquisition of the 4.4% stake could be a prelude to a bid for the company.

Furthermore UBS has maintained its "buy" recommendation for Misys on the back of ValueAct's acquisition.

In a research note the Swiss broker says the equity firm has a "track record of activism" and pointed out ValueAct's acquisition of 12% in Acxiom (ACXM) before it made a hostile all-cash US$23 per share offer for the company, which ultimately failed. UBS also noted ValueAct's acquisition of a six per cent stake in MSC Software followed by a hostile $9 per share bid.

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