WINDSOR, Conn., June 17, 2021 /PRNewswire/ -- SS&C
Technologies Holdings, Inc. (Nasdaq: SSNC) today announced that it
has decided not to exercise its matching rights in connection with
a competing offer made by a third party for an acquisition of 100%
of the shares and outstanding equity rights in Mainstream Group
Holdings Limited (ASX: MAI, "Mainstream") pursuant to a scheme of
arrangement between SS&C and Mainstream.
"SS&C has decided to not exercise its matching right in
respect of its bid for Mainstream," said Bill Stone, Chairman and CEO. "We began this
journey after Mainstream's board had accepted a AUS$1.20 bid
on March 12th. The most recent bid received by Mainstream was
$2.80, a 133% increase to the
original bid, and we congratulate the board of Mainstream
for maximizing shareholder value."
SS&C is being advised by Citi as financial adviser and
Gilbert + Tobin as legal adviser.
About Mainstream Group Holdings
As of March 2021, the Group provides administration
services to 1,364 funds and more than 176,000 investors with funds
under administration in excess of AUD $272
billion.
Mainstream employs 330 people, with operations in Australia, Singapore, Hong
Kong, the United States,
the Isle of Man, Malta,
Ireland and the Cayman Islands.
About SS&C Technologies
SS&C is a global
provider of services and software for the financial services and
healthcare industries. Founded in 1986, SS&C is headquartered
in Windsor, Connecticut, and has
offices around the world. Some 18,000 financial services and
healthcare organizations, from the world's largest companies to
small and mid-market firms, rely on SS&C for expertise, scale,
and technology.
Additional information about SS&C (Nasdaq:SSNC) is available
at www.ssctech.com.
Follow SS&C on Twitter, Linkedin and Facebook.
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SOURCE SS&C