Apex Group Ltd made an unsolicited non-binding offer to acquire Mainstream Group Holdings Limited (ASX:MAI) for approximately AUD 320 million on April 29, 2021. Apex Group Ltd made an unsolicited non-binding offer to acquire Mainstream Group Holdings Limited for approximately AUD 390 million on June 10, 2021. Under the transaction, Apex Group Ltd will pay AUD 2.35 per Mainstream share. As of April 30, 2021, Apex Group Ltd will pay AUD 2.55 per Mainstream share. As of May 6, 2021, Apex Group Ltd will pay AUD 2.6 per share. As of April 14, 2021, Apex Group Ltd will pay AUD 2.61 per share. As of May 18, 2021, Apex Group Ltd will pay AUD 2.65 per share. As on May 26, 2021, Apex Group Ltd revised the offer price AUD 2.75 per share. As on June 10, 2021, Apex Group Ltd revised the offer price AUD 2.8 per share resulting in a total consideration of approximately AUD 390 million. On June 27, 2021, Mainstream entered into a Scheme Implementation Deed with Apex. As of April 30, 2021, Board recommends Mainstream shareholders do not need to take any action at the current time. As on May 10, 2021, Mainstream?s Board has determined the unsolicited proposal from Apex a Superior Proposal. Mainstream has notified SS&C Technologies and SS&C Solutions Pty Ltd has until May 14, 2021 to match or offer more favorable terms. Mainstream shareholders do not need to take any action as of May 10, 2021. Mainstream announced on June 18, 2021 that the deadline for SS&C to exercise its SS&C Matching Right in respect of Apex?s offer to Mainstream was June 17, 2021 and SS&C did not exercise its SS&C Matching Right by the deadline and accordingly Mainstream now proposes to enter into discussions with Apex on the terms of the Apex Offer. The Mainstream Board determined the Apex Offer was a superior proposal. Mainstream is liable to pay a break fee of AUD 4 million to Apex and Apex is liable to pay a break fee of AUD 4 million to Mainstream in case of termination. The transaction is subject to Mainstream shareholders? approval in a meeting scheduled on October 6, 2021, regulatory approvals and approval from the Federal Court of Australia for approval in second approval on October 15, 2021. The Mainstream Directors unanimously recommend that Mainstream shareholders vote in favour of the scheme. As of August 4, 2021, The Federal Court of Australia approved the transaction. The scheme meeting will be held on October 6, 2021. As of October 6, 2021, the transaction has been approved by the 98.84% shareholders of Mainstream Group Holdings Limited. As of October 6, 2021, Apex Group Ltd has received the approvals from the relevant authorities in the Cayman Islands and Isle of Man in relation to the scheme but approvals from relevant authorities in Ireland and Malta have not been received but are expected to be received before the second court hearing scheduled on October 15, 2021. If the court approves the scheme on October 15, 2021, mainstream proposes to lodge an office copy of the orders of the court with the Australian Securities and Investments Commission (ASIC) on October 18, 2021, at which time the scheme will become effective. it is currently expected that Mainstream Group Holdings Limited shares will be suspended from trading on the ASX from close of trading on October 18, 2021 and the implementation date when scheme consideration will be paid is October 27, 2021. As of October 15, 2021, the Federal Court of Australia (Court) approved the scheme of arrangement. Miles Advisory Partners Pty Ltd. acted as financial advisor and Maddocks Lawyers acted as legal advisor to Mainstream Group Holdings. Herbert Smith Freehills acted as legal advisor to Mainstream Group Holdings Limited. Macquarie Capital (USA) Inc. acted as financial advisor to Apex Group Ltd. Deloitte Corporate Finance Pty Limited acted as the independent expert for Mainstream Group Holdings Limited. Apex Group Ltd. completed the acquisition of Mainstream Group Holdings Limited (ASX:MAI) on October 18, 2021. Mainstream Group will be delisted with effect of close of trading October 28, 2021.