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(Alliance News) - Blue Prism PLC on Monday gave an update for the timeline of its GBP1.24 billion takeover by SS&C Technologies Holdings Inc.
The Warrington, England-based robotic process automation firm expects the court hearing to sanction the takeover to occur on March 14. If approved, the company's final day of trading on AIM would be March 15, with shares to be cancelled by March 17. The cash due to Blue Prism shareholders would be received at latest by the end of March. The acquisition is still subject to regulatory approvals, and has a long-stop date of June 1 this year.
Connecticut-based fintech company SS&C made the cash offer of GBP1.24 billion for the entire issued share capital of Blue Prism at the beginning of December, at the price of 1,275 pence per share. Blue Prism had previously been in favour of an offer from Vista Equity Partners of 1,250p per share. It withdrew the recommendation upon the receipt of SS&C's offer, and shortly thereafter agreed on terms with SS&C.
Blue Prism shareholders voted in favour of the SS&C offer in mid-January.
Blue Prism shares were trading up 0.9% to 1,271 pence each in London on Monday morning.
By Elizabeth Winter; elizabethwinter@alliancenews.com
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