TPG extends GlobeOp timeline

TPG, the US private equity house which wants to buy GlobeOp, has extended its offer period by a fortnight to 28 March. It is competing against fellow bidder SS&C Technologies for the hedge fund administrator, which is based in London and New York. Earlier this week SS&C, a US financial software firm, made a 485p-a-share cash offer, which won backing from the independent directors.