New York, March 26: Sungard Data Systems Inc., which provides computer services to the financial-services industry, said it made a bid to purchase certain assets of Bridge Information Systems Inc. for as much as $165 million, with no assumption of debt.SunGard said the assets covered by its bid are the Bridge information business, the debt analytics supplier EJV, and the BridgeNews LiveWire service. Also included are the Bridge Trading Company brokerage business, and its Internet services unit eBridge. Bridge, hopes to close the sale - subject to various approvals, including that of the US Bankruptcy Court in St Louis before April 30. SunGard said it expects the transaction to close by May 31.
The proposed purchase also remains subject to higher offers for Bridge. Welsh Carson Anderson & Stowe, Bridge's largest shareholder, has said it would like to make an offer for the New York company. And Bridge said other parties have expressed interest in bidding for the company, and among its other businesses - Telerate, Bridge Commodity news, Bridge's non-US operations.
The Wall Street Journal
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