![]() 2 deadline to make a firm offer for Blue Prism or walk away. Separately, the UK Takeover Panel has set SS&C a Dec. Blue Prism shares jumped up to 7.7% to 1,309 pence on Friday.īlue Prism did not immediately respond to a Reuters request for comment. The increased cash offer of 1,250 pence per share from Bali Bidco Ltd, a firm indirectly owned by Vista, was announced late on Thursday. "We have evidence that many suitable PE firms were not contacted by (financial advisor) Qatalyst in this process," added Rasteh. "Management has lost our trust in light of false and inconsistent narrative presented to investors - 1,250 pence is still far from fair value," said James Rasteh, founding partner of Coast Capital. ![]() Coast had instead backed a rival 1.16 billion pound possible offer last week from SS&C Technologies (SSNC.O). Blue Prism stated that the latest offer from Vista Funds is final. Earlier this week, US-based software provider SS&C Technologies came up with a takeover offer worth around 1.6bn (1.2bn) or 1.2p per share in cash. U.S.-based Coast, which owns around 2.8% of Blue Prism, had also objected to Vista's initial 1.09 billion pounds proposal made in September. Vista Funds at that time had offered to acquire all the shares of Blue Prism for 1.12p per share in cash. It does not store any personal data.Nov 26 (Reuters) - Blue Prism (PRSMB.L) shareholder Coast Capital said on Friday it will not support private equity firm Vista Equity's final takeover offer of 1.22 billion pounds ($1.62 billion) for the British software firm on grounds it undervalues the company. Blue Prism is named a Leader for completeness of vision and ability to execute in the 2020 Gartner Magic Quadrant for Robotic Process Automation (RPA). The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. Go Way Beyond RPA in 2021 with Intelligent Automation. The cookie is used to store the user consent for the cookies in the category "Performance". This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other. The cookies is used to store the user consent for the cookies in the category "Necessary". The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". The cookie is used to store the user consent for the cookies in the category "Analytics". This cookie is set by GDPR Cookie Consent plugin. private equity firm Vista Equity is to buy British software firm Blue Prism for 1.1 billion pounds in a bid to grow its automation technology portfolio. ![]() These cookies ensure basic functionalities and security features of the website, anonymously. Necessary cookies are absolutely essential for the website to function properly. “It is shocking to see that the board continues to endorse Vista’s bid,” Coast founding partner James Rasteh said in a statement on Tuesday. Blue Prism defended the deal, saying it was better than remaining a standalone firm. U.S.-based Coast objected to the Vista deal in September, saying the sale process was flawed and that it believed there were conflicts of interest. LONDON British software company Blue Prism said Tuesday it has agreed a deal to be taken over by private equity firm Vista Equity Partners for £1. However, it added it was allowing SS&C access to its books and had postponed a shareholder meeting, that was due to vote on the Vista deal on Friday, while it evaluates SS&C’s offer with its advisers.Ī firm offer from SS&C was not guaranteed, Blue Prism said in a statement.Īctivist investor Coast Capital, which holds about a 2.8% stake in Blue Prism, said it supported SS&C’s proposal as the Connecticut-based company was more “suitable” than Vista or TIBCO – Vista’s business intelligence software company that would be combined with Blue Prism if that deal goes through. The British firm said on Tuesday it continued to back the Vista deal. private equity firm Vista Equity for 1.09 billion pounds. London-listed Blue Prism’s shares jumped roughly 10% to 1,239 pence on Tuesday, above the proposed 1,200 pence per share offer from SS&C.īlue Prism, whose customers include automaker Daimler, e-commerce firm eBay and Britain’s National Health Service, agreed in September to be taken over by U.S. U.S.-based SS&C Technologies has made a 1.16 billion pound ($1.56 billion) takeover approach to Blue Prism, topping an agreed deal between the British robotics software firm and Vista, and sparking speculation of a bidding war. ![]()
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