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Misys Confirms Rival Takeover Approach From Vista Equity Partners

By Marietta Cauchi Of DOW JONES NEWSWIRES LONDON -(Dow Jones)- Misys PLC (MSY.LN) Monday confirmed it had received a rival approach from U.S. buyout firm Vista Equity Partners, just two weeks after the financial software company said it was in merger talks with Swiss peer Temenos Group AG (TEMN.EB). "Misys confirms that it has received an approach from Vista Equity Partners consisting of a non-binding indicative proposal to acquire the entire outstanding share capital of Misys for cash that may or may not lead to an offer being made," the company said. Misys was responding to a news report that Vista had offered GBP1.2 billion for the company, considerably less than the GBP1.4 billion reportedly offered by U.S. rival Fidelity National Financial Inc. (FNF) last summer, and arguably less attractive to the all-share offer from Temenos. Vista Equity Partners has until close of business March 19 to make a firm offer or walk away. Financial information businesses have been heavily targeted over the past year or so as buyout firms look to deploy large hordes of cash investing in cash-generative assets and trade buyers seek growth through scale. Just months ago, Vista Equity Partners won a hotly fought auction for Thomson Reuters Corp.'s (TRI) Kondor unit, while earlier in 2011, Silver Lake Partners and Warburg Pincus bought Interactive Data Corp. (IDC) from Pearson PLC (PSO) is a deal worth $3.4 billion. At 1312 GMT, Misys shares were up 28 pence, or 9%, at 337 pence, giving it a market value of GBP1.12 billion. - By Marietta Cauchi, Dow Jones Newswires; +44 207 842 9241; marietta.cauchi@dowjones.com

Stock News for Pearson (PSO)
DateTimeHeadline
07/30/201509:27:12Report of Foreign Issuer (6-k)
07/29/201512:28:31Correction to Pearson story from July 23
07/27/201507:24:52Report of Foreign Issuer (6-k)
07/27/201506:44:55Report of Foreign Issuer (6-k)
07/27/201503:20:06Pearson in Talks to Sell Economist Stake
07/25/201512:02:09Pearson in Talks to Sell Economist Stake -- Update
07/25/201510:40:05Pearson In Talks to Sell Economist Stake
07/24/201511:40:47Report of Foreign Issuer (6-k)
07/24/201506:42:35Pearson's First Half Hit by Write-Down -- Update
07/24/201503:09:01Pearson 1st Half Hit by Writedown; Backs 2015 Guidance
07/23/201517:31:15ADRs End Lower; Credit Suisse Rises
07/23/201513:58:08Pearson Chooses Digital Path as It Plans to Sell Financial Times...
07/23/201512:30:33Correction to Pearson in Talks to Sell the Financial Times Story
07/23/201511:19:07Pearson Agrees to Sell the Financial Times to Nikkei for $1.3...
07/23/201510:59:57Report of Foreign Issuer (6-k)
07/23/201510:55:28Pearson Agrees to Sell the Financial Times to Nikkei for $1.3...
07/23/201510:44:27Axel Springer Not Buying FT Group
07/23/201510:38:18Financial Times Poised for New Ownership
07/23/201510:12:18Pearson in Talks to Sell the Financial Times -- 3rd Update
07/23/201508:29:24Report of Foreign Issuer (6-k)

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