About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

ION Trading Seals the Deal at Fidessa

Subscribe to our newsletter

ION Trading has agreed to acquire Fidessa just hours after it made a proposal to buy the company at a value of £1.5 billion and then transitioned the proposal into a formal offer. The offer trumps the bid for Fidessa made by Temenos in February and initially recommended by Fidessa to its shareholders.

As we noted earlier today, ION Trading proposed to acquire Fidessa for £38.70 per share in cash, valuing Fidessa at about £1.5 billion and entitling shareholders to receive and retain a final dividend and special dividend for the year to the end of December 2017 amounting to 79.7p per share. The company made its formal offer this afternoon, in time to meet today’s 5pm deadline set by the UK Takeover Panel for competing offers.

Lindsell Train, Evenlode Investment Management and Elliott International, which together own 25% of Fidessa’s shares, have given irrevocable undertakings to support the ION Trading offer.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Trade South Africa: Considerations for Connecting to and Trading the Johannesburg Markets

Interest among the international institutional community in trading South African markets is on the rise. With connectivity, data and analytics options for trading on the Johannesburg Stock Exchange growing more sophisticated, and the emergence of A2X as a credible alternative equity market, South Africa is shaping up as a financial centre that can offer a...

BLOG

Countdown to T+1: Market Readiness and the Push for Automation

As the North American T+1 settlement deadlines fast approach – 28th May 2024 for all US securities settled through DTC and 27th May for Canadian securities – the industry has been ramping up in preparation. And although the shorter settlement cycle promises to increase settlement efficiency, improve liquidity, decrease counterparty risk and reduce overall trading...

EVENT

RegTech Summit London

Now in its 8th year, the RegTech Summit in London will bring together the RegTech ecosystem to explore how the European capital markets financial industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

Risk & Compliance

The current financial climate has meant that risk management and compliance requirements are never far from the minds of the boards of financial institutions. In order to meet the slew of regulations on the horizon, firms are being compelled to invest in their systems in order to cope with the new requirements. Data management is...