SS&C has surpassed the 70% of GlobeOp shareholder votes needed for its 485-pence-per-share (approximately 522 million) bid for the fund administrator to move forward.
By late Monday, the latest deadline for shareholders to approve the deal, SS&C said it had acceptances from 76.8% of GlobeOp shareholders. SS&C extended its offer by a week when not enough shareholders had accepted the deal by the initial deadline May 8.
The deal must still pass a number of regulatory clearances before it is finalized. FINRA, the independent U.S. securities regulator, has already granted an indirect change in ownership of GlobeOp Markets Limited, SS&C says.
SS&C urged shareholders that had not yet accepted the offer to so do immediately.
Private equity firm TPG made an initial offer of 508 million for GlobeOp in February but bowed out when SS&C trumped the bid.
(CG)