Visa boosts offer for a payment company in battle with Mastercard

9 februarie 2019

Visa Inc on Friday sweetened its offer for payment company Earthport Plc to about 247 million pounds ($320 million), pushing past rival Mastercard Inc’s earlier bid and setting up a showdown for the assets, according to Reuters.

A unit of Visa offered 37 pence in cash for each Earthport share, a 23 percent premium to its initial bid and 12 percent higher than Mastercard’s offer last month.

Earthport shares have risen more than five-fold to 38.80 pence since Visa first offered to buy the company.

Earthport, which had backed the Mastercard bid, said it was now recommending that shareholders accept the increased Visa offer.

Mastercard said it was considering its options and urged Earthport shareholders to take no action in response to Visa’s announcement on Friday.

Both Visa and Mastercard have cited the same reason for their interest in Earthport – the deal would allow it to expand its cross-border network service.

Payment processing has become one of the hottest areas for deal making in the last two years, driven by technological changes in the way consumers pay for products.

Earthport, whose shares fell 28 percent last year until the first bid, offers a lower-cost option to traditional payments systems by allowing banks and money transfer firms to have a single relationship instead of multiple ties with various payments channels around the world.

Adauga comentariu

Noutăți
Cifra/Declaratia zilei

Nic Marius Balaceanu – Founder & CEO Lendrise

„For more than a week now, ScoreRise enrolls daily hundreds of users through an innovative facial recognition interface. Enrollment takes less than a minute and it does not require presence of a human operator or video recording. And, of course, it stays fully GDPR compliant with help from Reff & Associates and Deloitte Romania.”

Sondaj
Romania este ultima tara membra UE care nu a transpus in legislatia romaneasca Directiva europeana revizuita a serviciilor de plata (PSD2). Cand credeti ca se va intampla totusi acest lucru?
35 votes · 35 answers
Voteaza
NoCash