Linedata Services drops FMC bid
25 February 2005
The Board of Directors and a group of significant FMC shareholders have notified Linedata Services that the SS&C Technologies Inc company of the US has confirmed its offer to acquire all the common shares and class C shares of FMC at a price of CAD17.70 per share, a price more than 20 percent higher than the Linedata Services offer.
Linedata Services has chosen not to increase the value of its offer and FMC and its significant shareholders have, as a consequence, terminated respectively their Acquisition and Lock-Up agreements with Linedata Services, which will receive a break-up fee of CAD6 million.
Linedata Services to pursue acquisition-led growth
Linedata Services intends to continue to act as a federating force in a sector that remains fragmented by concentrating on international targets with sales in excess of EUR20 million and which operate chiefly as ASPs. In view of this, the group is to resume the negotiations with potential partners already begun in 2004.
This is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration under the U.S. Securities Act of 1933 or exemption from registration.