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Fidessa Group confirms it is in talks with Temenos over cash offer worth 3,567p a share

Published: 07:31 20 Feb 2018 GMT

Takeover bid
The board of Fidessa intends to recommend acceptance of the offer if it is made on the terms currently being negotiated

London-listed Fidessa Group PLC (LON:FDSA) is in talks with banking software giant Temenos over a possible takeover by the Swiss firm.

Shares in the trading and investment information solutions provider surged yesterday from 2,590p to 2,915p, prompting the company to issue a statement this morning confirming it is in talks over a cash offer pitched at 3,567p per share; with the final dividend announced yesterday and the previously announced special dividend thrown in, the Temenos offer being discussed would be worth 3,647p a share.

READ: Fidessa delivers solid 2017 results

Fidessa issued the usual caveat that there is no guarantee that an offer will be made, although it did describe the negotiations as “advanced”.

Temenos, meanwhile, has reserved the right to vary the terms of the offer.

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