Superannuation, wealth management and life insurance software company Bravura Solutions's $172 million takeover proposal for GBST could be dead before it even begins, if investor fears GBST won't grant due diligence prove true.
On Friday Bravura, which has a market capitalisation of $1.1 billion, made a $2.50 per share bid for its financial services software rival, with the hopes that the offer would be enough to get GBST to open up its books and grant the company an eight week due diligence period.
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Yolanda Redrup is the editor of the AFR Rich List. She previously reported on technology, healthcare and Street Talk. Connect with Yolanda on Twitter. Email Yolanda at yolanda.redrup@afr.com
