TPG Goes On Offensive With £508M GlobeOp Takeover Bid

Law360, New York (February 15, 2012, 9:27 PM EST) -- A subsidiary of private equity firm TPG Capital formally filed a £508 million ($797 million) buyout offer on Wednesday for British hedge fund administrator GlobeOp Financial Services SA , prompting rival SS&C Technologies Holdings Inc., also considering a bid, to respond.

Geo 3 & Co. SCA, indirectly owned by TPG, posted its offer letter for GlobeOp shareholders Tuesday, urging the board to vote on the matter by March 14.

In an agreement tentatively reached on Feb. 1, Geo 3 is making a cash offering of 435...
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