Misys funding in place for merger; Allscripts to pay dividend on Oct. 17

By Lisa Kerner

Charlotte, N.C., Sept. 29 - Misys plc announced it signed definitive agreements for $325 million of financing from two sources to fund a portion of the proposed merger of Misys Healthcare Systems, LLC and a subsidiary of Allscripts Healthcare Solutions, Inc.

Misys said it now has sufficient funding commitments in place to finance the transaction, according to a company news release.

It was previously reported that Misys will pay $330 million in cash to Allscripts in exchange for 54.5% ownership of the combined company.

Allscripts will pay a special cash dividend totaling $330 million to its stockholders on Oct. 17, an Allscripts news release said.

The corresponding per-share amount of the special cash dividend will be determined on the record date of Oct. 9, said Allscripts.

Payment of the dividend is contingent upon the merger's close under the companies' March 17, 2008 agreement.

Misys and Allscripts shareholders will be asked to approve the merger at meetings on Oct. 6.

Allscripts shareholders will also be asked to approve a share issuance from which the special dividend will be paid.

Following the merger's close, Allscripts stockholders will retain the shares they currently own, and Allscripts shares will continue to trade on the Nasdaq under the symbol "MDRX."

Allscripts is a Chicago-based clinical software company. Misys is an applications software and services company located in London.

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