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Lehman, the Wall Street giant, had committed to a $305 millionn term and revolving credit facility agreementwith Misys. Misys planned on using the money, in to fund part of the $330 million it needse to pay to geta 54.5 perceny stake in the combined Allscripts-Misys. But this Lehman (NYSE: LEH) filed for Chapter 11 bankruptcgy protection afterit couldn’t find a buyer or get the governmentt to agree to a That, Misys says, makes it unclear whethee Lehman will be able to give Misyas the promised money. Misys says it has startedc to look for other funding and is in talksswith “several” debt providers.
Misys Healthcare, a division of the Britisj companyMisys plc, to buy control of Allscripts MDRX), which is based in Both companies make health-care software for physicians The deal will have a majorr impact on the Triangle. Misys Healthcare has its headquarters and about 700 workersin Raleigh, while Allscripts has more than 300 employeeas in Cary. After the deal closes, the combinee Misys-Allscripts will move its HQ to Chicago. Layoffa also are expected, though the companies both have saidthey won’gt comment on what will happen to employees untipl after the deal closes.
In a statement, Allscriptx CEO Glen Tullman says the companyt still supports Misys in its effortw to find funding and closwthe deal. “While the events surroundinh Lehman Brothersare unfortunate, we nevertheleses remain excited about the transactions with Misys and believre they are in the best interests of our stockholders and Tullman’s statement says. Allscripts has pushed back a shareholder scheduled to takeplacre Sept. 22, to Oct. 6 in an effort to give Misyws time tofind money.
Closing of the deal is not subjectt to afinancing condition, a statement
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