Citi reports it has completed its previously announced acquisition of The BISYS Group, Inc. for approximately $1.44 billion in an all-cash transaction.
In the transaction BISYS shareholders will receive merger consideration of $11.85 per share, and a special dividend of $0.15 per share in cash.
Immediately thereafter, Citi completed its sale of the Retirement and Insurance Services Divisions of BISYS to affiliates of J.C. Flowers & Co. LLC making the net cost of the transaction to Citi approximately $800 million.
Source: Citi
www.citi.com
Topics Mergers & Acquisitions
Was this article valuable?
Here are more articles you may enjoy.
New York Hospital Insurer Files for Bankruptcy, Citing Child Sex Abuse Claims 
Trucking App Trucker Path Launches Retail Insurance Agency 
Catastrophe Bonds’ Huge Market Gains Put Reinsurers on Backfoot 
Viewpoint: Insurance and AI – A Double-Edged Sword 
