A potential bidding war for Misys began yesterday when it agreed to a £1.27 billion takeover by the American software investor Vista Partners.
Vista’s 350p-a-share cash offer is backed by Schroder Investment Management and Threadneedle Asset Management, which own almost 22 per cent of Misys’s shares between them. It has put pressure on a rival private equity bidder, CVC , to show its hand.
CVC has teamed up with ValueAct, Misys’s largest shareholder, to consider making a possible offer. The duo, which were thought to be preparing a bid at about 325p a share, will now have to lodge an offer