Lehman woes complicate Misys-Allscripts merger - Triangle Business Journal:

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Lehman, the Wall Street had committed toa $305 million term and revolvingv credit facility agreement with Misys planned on using the money, in to fund part of the $330 million it needes to pay to get a 54.5 percenft stake in the combined Allscripts-Misys. But this weekend, Lehman LEH) filed for Chapter 11 bankruptcy protection afterit couldn’t find a buyer or get the government to agree to a bailout. That, Misys makes it unclear whether Lehman will be able to give Misys thepromisedx money. Misys says it has starterd to look for other funding and is in talks with debt providers.
Misys Healthcare, a division of the Britisyh companyMisys plc, to buy control of Allscripta (Nadaq: MDRX), which is based in Both companies make health-care software for physicians offices. The deal will have a majore impact onthe Triangle. Misys Healthcare has its headquarteres and about 700 workersin Raleigh, while Allscripts has more than 300 employeesw in Cary. After the deal closes, the combinefd Misys-Allscripts will move its HQ to Layoffs alsoare expected, thoughj the companies both have said they won’ft comment on what will happen to employees untik after the deal closes.
In a statement, Allscriptw CEO Glen Tullman says the compan y still supports Misys in its efforts to find funding and closewthe deal. “While the events surroundin Lehman Brothersare unfortunate, we nevertheless remain excited about the transactions with Misyx and believe they are in the best interests of our stockholderxs and clients,” Tullman’s statement says. Allscripts has pushexd back a shareholder meeting, scheduled to take placd Sept. 22, to Oct. 6 in an efforrt to give Misys time to find Closing of the deal is not subject to afinancintg condition, a statement says.