Iress' 43¢ per share all-cash takeover offer for fund services business OneVue looks likely to be blocked at an October 9 shareholder vote if Alex Waislitz'sThorney Investments votes against the deal, as flagged.
It requires the approval of 75 per cent of shareholders who cast a vote. It's unlikely all shareholders will. Which means Waislitz's 18.5 per cent stake is, on its own, almost certainly enough to scuttle the deal.
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Tom Richardson writes and comments on markets including equities, debt, crypto, software, banking, payments, and regulation. He worked in asset management at Bank of New York Mellon and is a member of the CFA Society of the UK as a holder of the Investment Management Certificate. Connect with Tom on Twitter. Email Tom at tom.richardson@afr.com
