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iSoft takeover likely in days, not weeks

CSC considers its options

By John Oates • Get more from this author

Posted in IT Channel, 14th June 2007 15:02 GMT

The takeover of iSoft by Aussie firm IBA Health is likely to go ahead.

IBA Health today released a Scheme of Arrangement detailing how the takeover would happen.

Richard Granger, chief executive of Connecting for Health, the government body responsible for the National Programme for IT, reckons the deal could go through within a week.

Granger told E-Health Insider he had been talking to iSoft's chairman and: "I understand that the IBA/iSoft takeover deal is near completion. An announcement is due in the next few working days."

The deal looked like it was going ahead smoothly until CSC - the main contractor involved - refused to consent to the deal.

A spokeswoman for CSC today said it had nothing to add to last week's statement which suggested it may make a cash offer for the firm.

iSoft is holding an extraordinary general meeting to vote on the proposal on 6 July. The deal values iSoft at about £125m.

More from E-Health Insider: here.

The Scheme of Arrangement, is available from iSoft here. ®