SS&C Wins GlobeOp Bidding War With $897M Offer

Law360, New York (March 14, 2012, 7:08 PM EDT) -- British hedge fund administrator GlobeOp Financial Services SA has accepted a £540 million ($897 million) takeover offer by Connecticut-based SS&C Technologies Holdings Inc., which has been in a months-long bidding war with private equity firm TPG Capital, GlobeOp announced Wednesday.

SS&C's offer of 485 pence ($7.63) per share for 116.8 million shares in GlobeOp represented an 11.5 percent premium on TPG's offer, Bill Stone, CEO and chairman of SS&C, said in a Web conference Wednesday.

Both the board of directors of SS&C and the independent directors...
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