A PYMNTS Company

UK: FCA clears Fidessa’s ION acquisition

By  |  July 25, 2018

In a filing with the London Stock Exchange early on Wednesday, July 25, Fidessa Group confirmed that the Financial Conduct Authority (FCA) “has determined to approve the acquisition by ION Bidco of, or increase in control by ION Bidco with respect to, Fidessa plc and Fidessa Buy-Side Limited on terms reasonably satisfactory to ION Bidco.”

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    There are more conditions to satisfy before the deal is completed, including the receipt of antitrust clearance from the UK Competition and Markets Authority (CMA). In June this year, the CMA invited comments on the proposed deal.

    Under the terms of the offer, Fidessa shareholders are entitled to receive £38.70 (US$50.99) in cash for each Fidessa Share. This values the entire issued, and yet-to-be issued, share capital of Fidessa at approximately £1.5 billion (US$1.98 billion) on the basis of a fully diluted share capital of 39,133,650 Fidessa Shares.

    Full Content: Finance Feeds

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.