SunGard Readies GL Buyout

The initial offer is for SunGard to acquire the 64.51 percent of GL held by Euronext Paris, Gagnières, GL executive president Pierre Gatignol, and deputy managing directors Louis-Christophe Laurent and Frédéric Morin. Once that portion of the deal is agreed, SunGard will then make a public offering for the remaining free-float stock that is traded on Euronext.

A GL spokesperson says the companies hope to have the full acquisition completed by year-end, but says it is too early to provide any

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