Freshfields, Norton Rose join host of firms in Misys battle

Freshfields Bruckhaus Deringer and Norton Rose have become the latest firms to win roles on a potential deal with banking software company Misys, joining Allen & Overy (A&O), Herbert Smith, Kirkland & Ellis and Swiss firm Homburger in the bidding war.

Freshfields has been selected by longstanding client CVC Capital Partners on its joint bid with ValueAct Capital Partners, which has turned to Norton Rose.

Corporate partners Christopher Bown and Edward Braham are advising CVC alongside associates Victoria Bryden and Victoria Sigeti.

Norton Rose has fielded corporate partners Sean Murphy, Paul Whitelock and Julian Stanier and associates Fiona Millington, Sarah McKellar and Victoria Birch for ValueAct Capital.

CVC and ValueAct Capital are weighing up a joint cash bid for Misys, following Vista Equity Partners’s £1.2bn offer for the European banking software company. Vista has hired Kirkland & Ellis partners Graham White and Gavin Gordon (20 February 2012).

Misys had also agreed a merger with Swiss rival Temenos, which turned to Herbert Smith partner Will Pearce and Homburger partner Dieter Gericke (8 February 2012).

Misys has been using A&O partner George Knighton, an established adviser.

ValueAct, a major Misys shareholder, had previously given the go-ahead to the Temenos merger, but the Vista deal is said to be potentially preferable.

CVC and ValueAct have until April 2 to announce a firm plan to make an offer or call the bid off, while Vista has until March 19. Temenos’ deadline to formalise its bid or pull out is today (6 March).