Tuesday, October 25, 2011, 1:36 PM
Shareholders of Fundtech (FNDT -0.4%) approve a merger of the Israeli financial processing firm with an affiliate of the P-E firm GTCR. The company says the deal has passed FTC review, and is set to close in Q4.
Comment![M&A]
Thursday, September 15, 2011, 8:52 AM
Fundtech's (FNDT) U.S.-listed shares +31% premarket after the Israeli financial services firm says a new offer from private-equity company GTCR tops an earlier all-stock bid from S1 (SONE). FNDT calls the $23.33/share cash offer a "superior offer," and will ask its board to terminate its merger agreement with SONE and go with GTCR.
Comment![M&A, Financials, On the Move]
Thursday, August 25, 2011, 9:20 AM
Banking software firm S1 (SONE) is up 3.6% after ACI Worldwide (ACIW) raises the cash portion of its hostile bid for S1 to $6.20/share from a prior $5.70/share (to go with 0.1064 ACI shares). Earlier this month, S1 rejected ACI's prior bid, and reaffirmed its plans to acquire Fundtech (FNDT).
Comment![Tech, On the Move, M&A]
Tuesday, August 2, 2011, 9:32 AM
S1 Corp. (SONE -1.4%) rejects ACI Worldwide's (ACIW) $540M bid to acquire the company, and reaffirms its committment to buy Fundtech (FNDT +1.8%) in a $700M deal. (PR)
Comment![M&A]
Tuesday, July 26, 2011, 8:50 AM
ACI Worldwide (ACIW) offers to purchase all outstanding shares of banking software provider S1 Corp. (SONE) for $9.50/share, a 33% premium to S1's Monday closing price, in a cash and stock deal valued at ~$540M. ACI believes its offer is superior to a deal announced last month that would combine S1 with Fundtech (FNDT). SONE +30%, ACIW -0.2%, FNDT -7.4% premarket.
Comment![M&A, Financials]
Monday, June 27, 2011, 9:27 AM
S1 Corporation (SONE) says it will acquire Fundtech (FNDT) in a stock deal worth ~$700M. FNDT shareholders will receive 2.72 shares of SONE stock, or $20.51/share, a 3% premium to Friday's closing price and 18% to the June 13 price prior to reports of discussions about potential transactions. SONE +2.6%, FNDT +1.7% premarket. (PR)
Comment![M&A, Financials]