FORMER MISYS DIRECTORS have put forward proposals to make a rival "management walk-in" bid for the software and financial services firm against those being pursued by the existing management team, according to the Guardian .
Ross Graham, Mike O'Leary and John Sussens – who claim to have the backing of holders of 25% of the shares including UBS, Insight and Cazenove - wrote to Misys's independent directors last week outlining their plan for a “management walk-in” which they say could provide Misys with an alternative to any possible offers which they say “fall short of delivering fair value for shareholders". The proposal seems to be in competition with a potential £1bn-plus management buyout by existing ceo Kevin Lomax, and which is thought to be with backing from private equity firms Permira and General Atlan...
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