S1 Corp. (SONE) Reviewing Options on Fundtech (FNDT) Bid Following GTCR Announcement
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S1 Corporation (Nasdaq: SONE), has received notice from Fundtech Ltd. (Nasdaq: FNDT) of its intent to change its recommendation with respect to the pending transaction with S1, to terminate the merger agreement with S1 and to enter into a written definitive agreement with entities formed by GTCR Fund X/A LP and its affiliated entities.
Under the terms of the merger agreement, S1 has five business days to make a counter proposal. S1, in consultation with its legal and financial advisors, is currently reviewing its options.
Under the terms of the merger agreement, S1 has five business days to make a counter proposal. S1, in consultation with its legal and financial advisors, is currently reviewing its options.
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