IBA will find it difficult to complete the deal.
I have been advised there are a number of issues. All of these have actually been stated previously on this forum by various members so here's a summary.
1. iSoft's latest report stating decreasing revenues
2. CSC unlikely to consent unless IBA gives them Lorenzo (which IBA itself wants)
3. IBA scrip offer less attractive with its current share price
4. IBA does not have enough to make a full cash offer
5. IBA investors are informing the directors they no longer support the merger
I would expect the SP to head up towards $1.10 if this is true.
If not, well....
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who knows where we stand, page-4
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