In support of the transaction, SS&C entered into definitive lock-up agreements with certain stockholders of Financial Models representing approximately 91.8% of Financial Modelsâ outstanding capital stock, including Dr. William R. Waters, BNY Capital Corporation, Triax Growth Fund Inc., Van Berkom and Associates Inc., Stamos Katotakis and entities controlled by Mr. Katotakis. Financial Models has announced that it has been advised that such shareholders have terminated lock-up agreements entered into with Linedata in respect of its take-over bid for the shares of Financial Models.
The consummation of the transaction is subject to certain customary conditions, including the tender of a majority of the Financial Models shares. The transaction is expected to close during April 2005.
Bill Stone, SS&Câs Chairman of the Board and Chief Executive Officer, commented, "We believe that the combined strengths of SS&C and FMC will generate significant opportunities. Our combined industry expertise along with the thousands of clients we serve will drive innovation and benefit our employees and shareholders."