SS&C has entered into a conditional Scheme Implementation Deed with Mainstream Group Holdings Limited, an Australian administrator. SS&C proposes to acquire 100pct of the shares and outstanding equity rights in Mainstream at a price of AUD2.00 per security, pursuant to a scheme of arrangement.
Mainstream had previously entered into a Scheme Implementation Deed with Vistra Group at a lower offer price and, under that deed, Vistra has certain matching rights. The Scheme Implementation Deed entered into by SS&C is conditional on the ultimate outcome of that matching right process. Depending on the outcome, if the acquisition by SS&C proceeds, it will be recommended by the board of directors of Mainstream. At the end of 2020 SS&C launched an offer for Link Group in Australia, but abandoned the bid in January 2021.