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Merger: SS&C with DST
On just a stock value basis, DST shareholders are getting a 26.8% premium for a company that has a fair value of $66/share, ranks in the lower 1/3rd in terms of free cash flow/share and the middle 1/3rd in terms of revenue growth over the past 12 months. DST shareholders should be pleased with the transaction, but I wouldn’t stick around for the implementation.
