Mainstream Group has accepted a superior takeover proposal from SS&C Technologies, offering $2.00 per share, significantly surpassing the earlier bid from Vistra.
Target Information
Mainstream Group Holdings Limited (ASX:MAI) is a prominent funds administration business based in Australia. The company operates primarily in the financial services sector, providing various administrative services to managed funds, superannuation funds, and other investment entities. Recently, Mainstream was engaged in a significant takeover discussion following a proposal from Vistra Group, which offered a share price intended to take control of the company.
As the negotiations progressed, Mainstream entered a 'go shop' period that allowed it to seek competing offers from other interested parties. This strategic move was supported by its ability to entertain superior proposals, which ultimately led to SS&C Technologies Holdings making a more lucrative offer.
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Industry Overview
The funds administration industry in Australia is characterized by a diverse range of service providers offering comprehensive solutions to asset managers and institutional investors. The market has seen consistent growth driven by increased inv
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SS&C Technologies Holdings, Inc.
invested in
Mainstream Group Holdings Limited
in 2021
in a Other deal
Disclosed details
Transaction Size: $180M
Enterprise Value: $297M
Equity Value: $286M