Temenos faces late competition for Fidessa

Temenos faces late competition for Fidessa

Trading technology supplier Fidessa has postponed a shareholder vote on whether to accept a £1.4 billion takeover offer from Temenos because two more potential bidders have indicated that they may enter the fray.

Fidessa and Temenos announced on 21 February that they had reached terms on a takeover but a shareholder vote on the issue, slated for 5 April, has now been shelved.

In a statement, Fidessa says that it has "received approaches from two separate third parties who are each considering making an offer" at a premium to the Temenos agreement.

The firm stresses that there is no certainty that a formal offer from the unnamed parties will be forthcoming but the shareholder vote has been put back.

It is a condition of the Temenos offer that a vote is carried out by 27 April, and the circling third parties will have a deadline set for clarifying their positions.

Today's news saw Fidessa's share price rise more than 13%, to £41.70, while Temenos was down 3.85% to CHF110.


Comments: (0)

sponsored

sponsored

visit secure.onespan.com
Visit info.nice.com

Trending Stories

Featured Job
All Jobs »
London, UK

Marketing Manager, Fintech (London)

to £65K base + bonus

13 Sep