Guardian IT board recommends SunGard offer

The board of troubled UK disaster recovery company Guardian IT is recommending that shareholders accept an offer of 80p per share from SunGard, the IT and financial services provider.

The offer values Guardian IT at £168m (€272m), inclusive of the company's bank debt of £110m and finance lease obligations. On news of the offer, Guardian IT shares rose from 65p to 79p .

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