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Fly News Breaks for April 5, 2018
FDGRY, DST, SSNC
Apr 5, 2018 | 05:06 EDT
The financing necessary for SS&C Technologies (SSNC) to complete the acquisition of DST Systems (DST) is now done with the completion of the equity raise on Tuesday, JPMorgan analyst Sterling Auty tells investors in a research note. The larger than expected secondary offering provides balance sheet flexibility in order to be positioned to take advantage of opportunities over the next 12 months, the analyst adds. Following reports that SS&C had interest in acquiring Fidessa (FDGRY), Auty says such a deal would bolster the company's franchise in Europe and could offer more attractive accretion like the Advent Software deal. He thinks shares of SS&C are well positioned heading into the close of the DST deal. Auty keeps an Overweight rating on the shares with a $60 price target.
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