21 March 2012
Clifford Chance advises SS&C Technologies Holdings, Inc. on its recommended cash offer for GlobeOp Financial Services S.A.
Leading international law firm Clifford Chance is advising SS&C Technologies Holdings, Inc. on its recommended £575 million ($900 million) cash offer for GlobeOp Financial Services S.A.
SS&C Technologies Holdings, Inc. is offering 485 pence per share for all the issued and to be issued share capital of GlobeOp Financial Services S.A. through one of its wholly-owned subsidiaries, SS&C Technologies Holdings Europe S. à r. l. The offer values GlobeOp at approximately £575 million ($900 million), 11.5% in excess of TPG's all cash offer for GlobeOp announced on 1 February 2012.
SS&C is a global provider of investment and financial software-enabled services and software focused exclusively on the global financial services industry. Founded in 1986, SS&C has its headquarters in Windsor, Connecticut and offices around the world. More than 5,000 financial services organisations, from the world's largest to local financial services organisations, manage and account for their investments using SS&C's products and services. These clients manage in the aggregate over US$16 trillion in assets.
The acquisition, which is dependent on certain acceptance and regulatory conditions being met, will expand the product offering capabilities of the enlarged group, present significant cross-selling opportunities and provide enhanced opportunities for employees, customers, and other stakeholders.
Clifford Chance's Corporate team, comprising partners Steven Fox and Lee Coney and associates Robert Hill and Elisabeth Marsden, led the firm's multi-disciplinary, multi-jurisdictional team including finance partner Roderick McGillivray and associate Peter Dahlen, regulatory partner Simon Crown and associate Joe Khouri and Employee Incentives & Pensions partner Sonia Gilbert and associate Sarah Ferguson. Wilmer Hale advised SS&C on US law, led by Corporate partner John Burgess and finance partners John Sigel and Justin Ochs.
GlobeOp is being advised by Ashurst, led by Corporate partner Jon Earle.