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SS&C boosts banking software heft with $5.4 billion DST deal

Reuters 

(Reuters) - SS&C Technologies Holdings Inc said on Thursday it would buy DST Systems Inc in a $5.4 billion deal, expanding its financial technology software prowess through its largest deal to date.SS&C's offer of $84 in cash for each DST share represents a premium of 29 percent to the stock's closing price on Tuesday, a day before Reuters reported the companies were in advanced talks.The report sent DST's shares surging nearly 23 percent on Wednesday, while SS&C's closed up 12.8 percent. Both stocks jumped to record highs on Thursday, before easing to trade up about 5 percent each.The deal ...

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First Published: Fri, January 12 2018. 05:35 IST
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