SS&C Will Not Exercise Matching Right In Respect of Latest Offer to Acquire Mainstream Group

PR Newswire

WINDSOR, Conn. , June 17, 2021 /PRNewswire/ -- SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced that it has decided not to exercise its matching rights in connection with a competing offer made by a third party for an acquisition of 100% of the shares and outstanding equity rights in Mainstream Group Holdings Limited (ASX: MAI, "Mainstream") pursuant to a scheme of arrangement between SS&C and Mainstream.

"SS&C has decided to not exercise its matching right in respect of its bid for Mainstream," said Bill Stone , Chairman and CEO. "We began this journey after Mainstream's board had accepted a AUS$1.20 bid on March 12th. The most recent bid received by Mainstream was $2.80 , a 133% increase to the original bid, and we congratulate the board of Mainstream for maximizing shareholder value."

SS&C is being advised by Citi as financial adviser and Gilbert + Tobin as legal adviser.

About Mainstream Group Holdings
As of March 2021 , the Group provides administration services to 1,364 funds and more than 176,000 investors with funds under administration in excess of AUD $272 billion .

Mainstream employs 330 people, with operations in Australia , Singapore , Hong Kong , the United States , the Isle of Man, Malta , Ireland and the Cayman Islands .

About SS&C Technologies
SS&C is a global provider of services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut , and has offices around the world. Some 18,000 financial services and healthcare organizations, from the world's largest companies to small and mid-market firms, rely on SS&C for expertise, scale, and technology.

Additional information about SS&C (Nasdaq:SSNC) is available at www.ssctech.com .

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SOURCE SS&C