News: A stock-and-cash offer is being proposed to cross Vista Equity Partners’ offer of $55.85 per share.
Information services company IHS is reportedly preparing to bid for Solera, which provides risk and asset management software and services to the automotive and property marketplace.
Earlier this month, Vista Equity Partners agreed to acquire Solera for $6.5bn, including net debt.
Citing people familiar with the matter, Reuters reported that IHS is proposing a stock-and-cash offer that will cross Vista’s offer of $55.85 per share.
The sources said IHS plans to make its offer next week in order to have enough time to negotiate an agreement with Solera before 11 October.
The news agency reported that after that point, the deal termination fee that Solera would have to pay Vista Equity to agree to sell itself to IHS increases from $38.2m to $114.4m.
The people said as Vista Equity’s offer was all in cash, IHS needs to show that its currency is valuable enough to be superior.
Founded in 2005, Solera processes more than 230 million transactions annually. It has 180,000 customers in more than 75 countries.