5 April 2005 – LAWFUEL – The Law News Network – Allen & Overy is advising Marlborough Stirling plc, a provider of outsourcing, transaction-based services and technology to the UK life, pensions and mortgages markets, on its recommended takeover by Vertex Data Science Limited. Vertex is a wholly-owned subsidiary of United Utilities PLC.
Under the terms of the offer, which is being carried out by means of a scheme of arrangement, Vertex will pay 42 pence in cash for each Marlborough Stirling share, valuing Marlborough Stirling at approximately £95.3 million.
Corporate partners David Wootton and Richard Hough are leading the Allen & Overy team, assisted by associates Richard Kim and Gareth Irving. Advice on share options is being provided by partner Paul McCarthy and associate Jonathan Fletcher Rogers.
UBS Investment Bank is acting as financial adviser to Marlborough Stirling.
Commenting on the transaction, Richard Hough said: “We have worked closely with the Marlborough Stirling team over the past few months and we are delighted the auction process has led to a successful conclusion. Marlborough Stirling’s knowledge and experience of the financial services sector and Vertex’s reputation and financial scale makes for an excellent fit”.
