(Reuters) - Citigroup agreed to buy Bisys on May 2 so it could offer
more services to hedge funds and private equity firms. The
largest U.S. bank plans to keep Bisys' fund services and
alternative investment services units and sell its retirement
and insurance services units to private equity firm J.C.
Flowers & Co.
The transaction calls for Bisys shareholders to receive
$11.85 per share in cash from Citigroup and a 15 cents per
share special dividend from Bisys.
Read more at Reuters.com Mergers News
more services to hedge funds and private equity firms. The
largest U.S. bank plans to keep Bisys' fund services and
alternative investment services units and sell its retirement
and insurance services units to private equity firm J.C.
Flowers & Co.
The transaction calls for Bisys shareholders to receive
$11.85 per share in cash from Citigroup and a 15 cents per
share special dividend from Bisys.
Read more at Reuters.com Mergers News
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