The group buying SunGard is led by SilverLake Partners and includes Bain Capital, The Blackstone Group, Goldman Sachs Capital Partners, Kohlberg Kravis Roberts & Co, Providence Equity Partners and Texas Pacific Group.
The group is buying SunGard for $36 a share in cash, a 14% premium to its closing share price of $31.55 on Thursday on the New York Stock Exchange. The investor group is also taking on $500 million of SunGardbond debt, which will remain outstanding. The data shows 288.6 million outstanding SunGard shares, the deal would be worth about $10.9 billion including debt. The group said the deal was valued at $11.3 billion, without giving an exact breakdown of how that figure was calculated. The deal is to be financed by equity contributions from each of the investor firms, plus loans provided by units of banks JPMorgan Chase & Co, Citigroup Inc, Deutsche Bank, Goldman Sachs Group Inc and Morgan Stanley.