Misys Drops Swiss Suitor For Possible PE Takeover

Law360, New York (March 12, 2012, 12:10 PM EDT) -- The buyout race for banking software maker Misys PLC is down to two competing private equity firms after the U.K.-based company said Monday it has stopped merger talks with Swiss rival Temenos Group AG.

Temenos and Misys said in early February that they had reached “agreement in principle” for an all-stock merger, a deal that would have created one of the world's biggest providers of financial software.

But since then, two private equity suitors have expressed interest in the company, which posted revenue of £370 million...
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