find the latest legal job
Corporate and Commercial Partner
Category: Corporate and Commercial Law | Location: Adelaide SA 5000
· Adelaide CBD · Join a leading Adelaide commercial law firm
View details
Freelance Project Finance Lawyers
Category: Other | Location: All Australia
· Vario are looking for freelance lawyers with experience in project finance ideally within the renewable energy sector
View details
Vario Freelance Lawyers
Category: Construction Law | Location: All Australia
· We are looking for lawyers who appreciate the endless possibilities that a freelance career can offer.
View details
Freelance Construction Lawyers
Category: Construction Law | Location: All Melbourne VIC
· We are looking for construction lawyers who appreciate the endless possibilities that a freelance career can offer.
View details
Banking Associate - 1-6PQE - Allen & Overy
Category: Banking and Finance Law | Location: United Kingdom
· Banking Associate - 1-6 PQE - Allen & Overy
View details
Software company advised on multimillion-dollar takeover bid

Software company advised on multimillion-dollar takeover bid

Adam Laura

An Australian financial software provider is being advised on a proposed scheme of arrangement with a Swiss giant.

Firms: Gilbert + Tobin (Rubik Financial); King & Wood Mallesons (Temenos)

Deal: Rubik Financial (Rubik) is being advised on a takeover bid from Swiss software company Temenos.

Value: $68 million (approx.)

Area: M&A

Key players: Corporate advisory partners Adam Laura (pictured) and Tim Gordon led the Gilbert + Tobin team advising Rubik, with assistance from lawyer Lucy Hall. The KWM team advising Temenos was led by partners Ros Anderson and Lee Horan, along with special counsel Andrew Phillipson. Partners Patrick Gunning and Elizabeth Hundt Russell, and senior associates Nick Sinclair and Will Stawell, also supported the transaction. 

Deal significance: Gilbert + Tobin is advising Rubik on its proposed takeover by Swiss software firm Temenos.

Rubik is an ASX-listed financial software provider with clients in Australia, Asia and the Middle East. It has had a relationship with Temenos for a number of years, and the proposed scheme would “create a leading player” in the Australian fintech space, according to a statement from G+T.

If the scheme of arrangement goes ahead, Temenos will acquire 100 per cent of the shares in Rubik at $0.1667 per share. This is a 52 per cent premium on Rubik’s last closing price before the announcement, valuing Rubik’s equity at approximately $68 million, the statement said.

“If implemented, we believe the scheme will have a positive impact for both our existing clients and prospective clients by providing access to the significant resources of Temenos as a market-leading wealth, banking and finance software specialist,” said Rubik CEO Iain Dunstan.

Rubik’s board of directors unanimously recommended that its shareholders vote in favour of the takeover. Its three largest shareholders have already indicated that they will support the scheme, subject to an independent expert advising that the deal is in the company’s best interests and the board maintaining its unanimous endorsement.

“The team at Gilbert + Tobin provided us with the outstanding service and unmatched market knowledge we have come to expect from them. They get the balance between the commerciality and the legals right every time, and they were instrumental in getting this over the line for us,” said Mr Dunstan.

G+T lead partner Adam Laura said, “As a firm we have had a long-standing relationship with Rubik, and we are delighted to be helping them on such a significant transaction.”


Like this story? Read more:

Book commemorates diamond milestone for WA law society

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

Software company advised on multimillion-dollar takeover bid
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Debate rises over Victorian judiciary attack
Jan 24 2018
Debate rises over Victorian judiciary attack
The Victorian Bar has become the latest to go on record condemning recent political attacks on the V...
Michelle Quigley QC
Jan 24 2018
Vic Barrister who helped stop major heritage redevelopment joins Supreme Court
Michelle Quigley QC, who assisted a coalition to oppose the redevelopment of St Heliers villa estate...
Building, construction
Jan 24 2018
Building finish for NSW coroner’s complex slated for early 2019
Efforts to relocate the state coroner’s facilities from Glebe to Lidcombe are on track, according ...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...