You can sign up to receive daily morning news bulletins from every region we cover and to weekly email bulletins covering key economic sectors from manufacturing to technology and enterprise. "After discussions and negotiations with both parties, Vista submitted their final proposal which represented a value that was both the highest in the process and superior to the company's standalone alternatives, which the board concluded was worthy of recommendation to Blue Prism shareholders.īusinessLive is your home for business news from around the North West- and you can stay in touch with all the latest news from Greater Manchester, Liverpool City Region, Cheshire, Lancashire and Cumbria through our email alerts. It said: "The board, with the support of its independent advisors, conducted an extensive market check over four months that included outreach to 15 strategic parties and 12 financial sponsors (including Vista and TPG) and initially resulted in the submission of two non-binding proposals from Vista and TPG to acquire the company. In a new statement issued to the London Stock Exchange Blue Prism set out its defence of the proposed deal. When the deal was announced Blue Prism, whose customers include automaker Daimler, eBay and Britain’s NHS, said it plans to recommend shareholders vote in favour of the Vista bid. READ MORE: Airbnb, Burger King and Spotify investor ends pursuit of Blue Prism after near £1.1bn takeover deal agreed The company said it would encourage other shareholders to reject Vista’s 1,125p per share offer and added the bid undervalues the listed firm, which makes intelligent robotic process automation software. A Warrington-headquartered software developer has defended its proposed near £1.1bn takeover by a US private equity firm after one of its shareholders encouraged others to vote against it.Ĭoast Capital send a letter to Blue Prism's board after the deal with Vista Equity Partners was announced at the end of September.
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