Equals extends takeover deadline as Consortium raises all-cash offer, adds special dividend
As all grey-haired investors like myself know 'Patience = Profits'.
Sure ' () 12 month strategic review may have taken a little longer than originally anticipated.
Yet today, this rapidly expanding B2B foreign exchange and international payments platform said that the bidding Consortium (JC Flowers and Towerbrook) had nudged up their indicative non-binding, all-cash offer to 135p/share plus a 2p special dividend. The latter is to be paid at completion and reflects the group's prolific cash generation.
The Consortium confirmed too, it has now completed its due diligence and is advancing necessary transaction documentation.
Assuming no last-minute hitches in today's Budget announcement (knock on wood), I would expect a formal agreed offer to be submitted to shareholders sometime over the next fortnight.
As such, the PUSU has been extended again to 5pm 20th November 2024.
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