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.
Judge Awards Applied Systems Preliminary Injunction Against Comulate 
‘Structural Shift’ Occurring in California Surplus Lines 
Florida Insurance Costs 14.5% Lower Than Without Reforms, Report Finds 
Insurance Issue Leaves Some Players Off World Baseball Classic Rosters 
