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Elliott Views $2 Billion Bid for Fidessa as Too Low

  • Activist believes software firm is undervalued by Temenos
  • Rivals, private equity firms may be other potential suitors
Updated on

Activist investor Elliott Management Corp., having acquired a stake in Fidessa Group Plc, believes that a $2 billion bid from Temenos Group AG undervalues the U.K. computer-software provider, according to people familiar with the matter.

The hedge fund run by billionaire Paul Singer is taking the stance that Fidessa could fetch a higher price from other software makers and private equity firms, said the people, asking not to be identified because the matter is private. It doesn’t currently plan to oppose the deal, but believes there are other potential buyers and wants the company to be open to rival offers, the people said.