Misys shares were languishing at the 175p ($3.32) level in May before takeover speculation surrounded the company and an independent committee of the board was appointed to consider rival bids.
Now a report in the Financial Times says banking software provider Fiserv Inc has dropped its interest in the company, following private equity-backed Sunguard Data Systems’ decision to walk away from the company after conducting due diligence.
Earlier in September, Misys dashed stock market hopes of a bidding war for the company when it said it had not yet received any proposals, which it considered should be put to shareholders.
While an independent committee of the board set up to handle the negotiation because a management buyout was also on the table did say that while discussions with various parties are continuing, it said that there is no guarantee of an offer that it would be prepared to recommend to shareholders.
