Paysafe receives potential takeover bid of £2.9 billion
Paysafe said was initially approached by the funds in May.
Following the receipt of a number of indicative proposals from the funds that were rejected, Paysafe said due diligence access was granted on the basis of a possible offer of 590.00 pence per share.
Under the terms of the possible offer, Paysafe said its shareholders would receive 590.00p per share in cash, representing a premium of approximately 34% to the volume weighted average price for the six month period ended 30 June, the day prior to broad sector consolidation speculation.
This would value the company at around £2.9 billion.
Paysafe said its largest shareholder, Old Mutual Global Investors (UK) has sent Paysafe a non-binding letter of support for the deal.
Old Mutual holds approximately 50.0 million Paysafe shares, 10.3% of its current issued share capital. ■