Mainstream to pursue Apex acquisition offer
Following a “superior proposal” to what was offered by SS&C, fund administrator Mainstream Group Holdings will pursue discussions with Apex Group Limited after reaching the deadline for SS&C to exercise matching rights.
Apex offered the acquisition of 100% of shares by way of scheme of arrangement for $2.80 per share.
As part of the terms, SS&C had until 5pm on 17 June, 2021, to match or offer more favourable terms.
However, Mainstream was still bound to the SS&C share implementation deed (SID) and the Mainstream board had not changed its recommendation that shareholders vote in favour of the SS&C scheme in absence of a “superior proposal”.
AUTHOR
Chris Dastoor
Recommended for you
First Sentier Investors chief executive, Mark Steinberg, is set to depart the asset manager after seven years.
Metrics Credit Partners has completed the acquisition of Taurus Finance Group and BC Investment Group as it looks to launch consumer lending arm Navalo.
AMP has announced to the ASX that it is being sued by property fund manager Dexus regarding the sale of its real estate and domestic infrastructure equity business.
Having seen inflows of US$5.6 billion to its fixed income funds in the last quarter, Janus Henderson has closed on a deal with life insurer Guardian to secure funds to boost its product development.
