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Rival eyes £500m GlobeOp bid

Monday 6th February 2012, 5:43am
M&A
JULIET SAMUEL

A NEW bidder has entered the £500m race to buy GlobeOp Financial Services, the hedge fund services firm.

US-based SS&C Technologies, a rival to GlobeOp, said late last night that it has been performing due diligence on the company since the middle of January.

It is understood that SS&C will fire off a bidding war with GlobeOp’s current suitor, US private equity giant TPG Partners, if it moves towards making an offer.

A source familiar with the situation said any new bid from SS&C will consist of a “higher cash offer” than the £500m that is now on the table.

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