Another company is considering an offer for Solera Holdings that tops Vista Equity Partners deal which is valued at $6.5 billion, including Solera’s existing debt, according to a report. Solera, parent company to LYNX Services, GTS and Glaxis, could terminate “the merger agreement [with Visa Equity] in compliance with its terms in order to accept a superior proposal,” according a U.S. Securities and Exchange Commission (SEC) document filed last week.
IHS Inc., an Englewood, Colo.-based company, which provides information, insight and analytics in critical areas, is the potential suitor, according to the report.
“Businesses and governments in more than 150 countries around the globe rely on the comprehensive content, expert independent analysis and flexible delivery methods of IHS to make high-impact decisions and develop strategies with speed and confidence,” according to the company’s website. “IHS has been in business since 1959 and became a publicly traded company on the New York Stock Exchange in 2005.”
“IHS is working with a financial adviser and will probably make an offer that tops Vista’s by the end of a [28-day go-shop] period, one of the people [with knowledge of the matter] said,” according to the report.
One of the areas IHS serves is the insurance industry.
“Upon termination of the merger agreement under specified circumstances, the company has agreed to pay parent a termination fee of $114,400,000 and/or reimburse parent’s expenses up to $5 million (which reimbursement shall reduce, on a dollar for dollar basis, any termination fee subsequently payable by the company),” according to the SEC filing.
To view the SEC filing, click here.