Misys management team invited to submit bid offer
14 June 2006 | 2029 views | 0
On 9 June 2006, Misys plc ('Misys') confirmed that it had received a request from certain members of the senior management team to explore the possibility of making an offer for Misys. An Independent Committee of the Board, comprising all of the non-executive directors and chaired by Sir Dominic Cadbury, has been formed to consider the request.
The Independent Committee has now authorised certain members of the senior management team, on a non-exclusive basis, to explore the possibility of making an offer for Misys. At this preliminary stage, the Independent Committee has not yet authorised the release of any non-public information.
The Independent Committee believes there is significant value within Misys and is confident in the growth prospects of the Company. The Independent Committee is considering the best way of maximising value for all shareholders while at the same time minimising disruption to the business and employees.
The Independent Committee reconfirms that no offer has been received and no price has been discussed in relation to either all or part of Misys and therefore there is no certainty that an offer will be forthcoming.
JPMorgan Cazenove has been appointed to advise the Independent Committee.
A further announcement will be made in due course, as appropriate.