UK-based software company Fidessa has decided to postpone its shareholder meeting to discuss the £1.4bn acquisition bid by Temenos citing possible new offers.
In a statement, Fidessa said that it has been approached by two separate third parties “who are each considering making an offer for Fidessa at a premium to the Temenos offer.”
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One of the potential new offers represents a 5% premium to Temenos’s cash bid, while details about the other offer were not divulged.
The shareholder meeting, which was adjourned indefinitely, was scheduled to approve the Tememos acquisition offer.
However, the company also noted that the Temenos offer will not lapse due to this postponement of the Scheme Court Meeting and the General Meeting. But a condition on the Temenos deal requires the Scheme Court Meeting and the General Meeting to be held on or before 27 April 2018.
Currently, Fidessa is discussing with the two potential parties about the offer.
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By GlobalDataIn February this year, Temenos announced to acquire Fidessa is a deal valued nearly £1.4bn.
Under the terms of the acquisition deal, Fidessa shareholders will receive £35.67 for each share in the all-cash deal.
