CVC, ValueAct Quit Takeover Talks With Misys

Law360, New York (April 2, 2012, 2:07 PM EDT) -- Private equity firms CVC Capital Partners and ValueAct Capital Master Fund LP withdrew from a bidding race for software maker Misys PLC on Monday, leaving California-based Vista Equity Partners as the front-runner for a takeover, according to Misys investor documents.

As an April 2 regulatory deadline for bidding drew to a close, CVC and ValueAct announced they did not intend to make a joint offer for Misys after Vista ambushed their talks with the company with a £1.27 billion ($2 billion) cash offer two weeks ago....
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