Misys intends to give back £145m to shareholders after failing to find enough sellers to fulfil its plans to return a total of £670m via a share buy-back, the company said yesterday.
Nearly 170 million shares were tendered as part of the buy-back and will be repurchased at 310p each, taking the total return from the exercise to around £525m.
Confirmation that Misys remained committed to returning the balance lifted its shares by as much as 8.9 per cent in early trading.
Responding to the update, Jefferies analysts said the tender results were unsurprising. "As we had anticipated, the 270p to 310p tender range proved to be too low to tempt sufficient interest," they said.
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