The board of directors of Mainstream Group Holdings Limited, the Australia-based administrator with >AUD224bn (USD175bn) AuA, has unanimously recommended an acquisition by SS&C of 100pct of the shares and outstanding equity rights in Mainstream for A$2.00 per security pursuant to a scheme of arrangement (in the absence of a superior offer and subject to an independent expert concluding that the SS&C proposal is in the best interests of the Mainstream shareholders). The matching rights of Vistra Group in connection with its prior Scheme Implementation Deed have now expired and Mainstream is proceeding to terminate that agreement with Vistra in accordance with its terms. SS&C’s Scheme Implementation Deed will then become fully operative per its terms. The purchase will be subject to customary conditions, including approval by Mainstream shareholders, the relevant Australian court and certain regulatory approvals, and is expected to close in the third quarter of 2021.
