Cleary Gottlieb Guides TPG In £508M GlobeOp Deal

Law360, New York (February 1, 2012, 4:12 PM EST) -- GlobeOp Financial Services SA has agreed to a £508 million ($805 million) offer from a buyout affiliate of Texas-based private equity firm TPG Capital for the British hedge fund administrator, it said Wednesday.

GlobeOp shareholders will receive 435 pence for each share, a 48.5 percent premium over its Jan. 5 closing price and a 22.4 percent premium over its Jan. 31 closing price. The deal values the company's fully diluted share capital of 116.8 million shares at $805 million.

The deal will be financed with a...
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