The entity established by TPG Capital of Fort Worth to take over GlobeOp Financial Services said Friday it was dropping out of the running for the fund administrator.

SS&C Technologies CEO Bill Stone told Securities Technology Monitor he is now 'very confident' that GlobeOp shareholders will accept his firm's $816 million bid.

That is, by far, the largest acquisition in the company's history and Stone says it will put GlobeOp behind only Citco and State Street among global fund administrators.

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