SSNC - SS&C Technologies raises offer to acquire Mainstream implying enterprise value of $290M

SS&C Technologies ([[SSNC]] -0.1%) amended the Scheme Implementation Deed with Mainstream to provide for an acquisition of 100% of the shares and outstanding equity rights in Mainstream for A$2.56 (compared to A$2.00 earlier) per security pursuant to a scheme of arrangement.Mainstream board intends to support the revised scheme of arrangement.Proposed acquisition terms indicate an enterprise value for Mainstream of ~A$376M (~$290M).Transaction expected to close in Q3.Mainstream is a provider of investment administration, middle office, fund accounting, superannuation administration, share registry and unit registry services.

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SS&C Technologies raises offer to acquire Mainstream implying enterprise value of $290M