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SunGard completes GL Trade tender offer

26 November 2008  |  2664 views  |  0 Source: SunGard

SunGard today announced the successful completion of the tender offer by its wholly owned subsidiary SunGard Investment Ventures LLC for the outstanding shares of GL Trade, a global financial software solutions company.

Through Financiere Montmartre, SunGard now indirectly owns 9,734,093 shares of GL TRADE, representing 99.23% of the share capital and voting rights of the company.

As previously announced, SunGard will request the mandatory squeeze-out ("retrait obligatoire") and delisting of GL TRADE's shares from Euronext Paris.

Harold Finders, division chief executive officer of SunGard's Financial Systems business, said: "We are very pleased with the successful completion of this transaction. We are now able to fully integrate GL TRADE's activities with those of SunGard and we look forward to offering an enhanced set of products and services to our combined network of customers."

 

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