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BRIEF-Ebix says interested in making 450 mln stg offer for Xchanging Plc
November 16, 2015 / 2:06 PM / 2 years ago

BRIEF-Ebix says interested in making 450 mln stg offer for Xchanging Plc

Nov 16 (Reuters) - Ebix, Inc. :

* Ebix, Inc. Possible offer for Xchanging Plc

* Confirms that it has sent a letter to Xchanging Plc’s board, outlining its interest in making an offer to acquire co

* Ebix’s proposal values xchanging at approximately 450 million stg ($685 million based on a US$:GBP exchange rate of 1.52:1)

* Offer represents a premium of over 9 percent to Capita Plc’s all cash offer of 160 pence per share, and a premium of over 3 percent to Computer Sciences Corporation’s all cash proposal of 170 pence per share

* CEO says “see substantial synergies, economies of scale and growth potential for combined business”

* Ebix has retained investment banking advisory firms Spayne Lindsay & Co and Kinmont Of London, and Peter J. Solomon company of New York

* Ebix is required, by not later than 5.00 pm on 9 December 2015, either to announce a firm intention to make an offer for Xchanging Plc Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 80 6749 1136)

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