Blue Prism Group PLC - Warrington, England-based robotic process automation firm - Bali Bidco Ltd, which is owned by funds managed by Austin, Texas-based private equity firm Vista Equity Partners, has agreed on a final offer for Blue Prism at a price of 1,250 pence per share in cash, valuing the company at GBP1.22 billion.
The price reflects a 50% premium to the closing price of Blue Prism at 832p on August 27, the last business day before the start of the offer period.
In late September, Blue Prism had first accepted the takeover offer for GBP1.10 billion, while in November, SS&C Technologies Holdings Inc earlier in the month made a tentative approach for Blue Prism worth 1,200p per share.
All regulatory clearance are expected to be granted or waived, with the remaining conditions being shareholder approval at the reconvened general meeting and court meeting on December 9.
Vista currently has irrevocable undertakings from 17.5 million shares in Blue Prism, reflecting 18% of the company's issued share capital.
Current stock price: 1,215.00 pence
Year-to-date change: down 29%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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