SS&C Technologies Holdings, Inc. ("SS&C") notes the announcement by TPG on 20 April 2012 regarding its intention not to make a revised offer for GlobeOp.
On 14 March 2012 SS&C announced a recommended cash offer (the "Offer") for the entire issued and to be issued share capital of GlobeOp. Under the terms of the Offer, (set out in full in the document posted to GlobeOp shareholders on 26 March 2012) GlobeOp shareholders will receive 485 pence in cash for each GlobeOp share.
The Independent Directors of GlobeOp have unanimously recommended that GlobeOp shareholders accept the Offer.
SS&C urges GlobeOp shareholders to accept the Offer as soon as practicable and, in any event, by no later than 5.00 p.m. (London time) on 23 April 2012 (being the First Closing Date).
"Following TPG's announcement we continue to encourage GlobeOp shareholders to accept SS&C's offer. We see the combination of SS&C and GlobeOp as a compelling business," said Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies. "The combined SS&C and GlobeOp business, we believe, will delight our customers with an expanded product and service suite, offer exciting opportunities to our employees and create value for our shareholders."