Carlyle Group Engineers SS&C Takeover

[donsu]

http://www.securitiesindustry.com/article.cfm?articleid=15961&pg=bnews


In the latest of a string of buyouts of capital markets technology providers and processors, SS&C Technologies is selling itself for $941 million to Sunshine Acquisition Corp., an affiliate of private equity powerhouse Carlyle Group.

The buyer agreed to a purchase price last week of $37.25 in cash per share, a 15.7 percent premium over SS&C's closing price over the previous 30 days. The Windsor, Conn.-based company's shares, which were trading around $33 before the July 28 acquisition announcement, closed Tuesday at $36.42.

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Stone said he believes the Carlyle deal will close in "early-to-mid fourth quarter," pending shareholder approval. As part of the buyout, Stone will exchange an unspecified number of his shares in SS&C for a 28 percent stake in Sunshine Acquisition Corp.
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haven't we heard of Stone before?

[Moochy]

1. Sunshine Acquisition Corp.

What a happy sounding private equity powerhouse!