Fidessa’s £1.5 Billion Recommended Takeover Offer From ION
April 26, 2018
Cleary Gottlieb is representing Fidessa group plc (Fidessa) in relation to the recommended all cash offer from ION Investment Group Limited (ION) to acquire the entire issued and to be issued share capital of Fidessa.
Cleary Gottlieb also advised Fidessa on its earlier £1.4 billion takeover offer from Temenos Group AG (Temenos), announced in February, which was to be effected by means of a scheme of arrangement under Part 26 of the UK Companies Act 2006. Following the announcement of the recommended offer from ION, Temenos announced that it would not increase its offer price and would lapse its offer.
Fidessa is a global provider of multi-asset trading and investment software and infrastructure solutions to the world’s financial markets. ION is a software solutions provider, offering products in trading and workflow automation for large financial institutions and corporates.