CAB Payments Rejects Takeover Approach from StoneX | LeapRate | Online Trading Industry News, Broker Intelligence & Fintech Analysis
CAB Payments has rejected a possible cash offer from StoneX Group Inc., stating that the proposal “significantly undervalues” the business and its medium-term prospects.
The company received the unsolicited, non-binding proposal on 15 March, with StoneX indicating a possible offer price of 95 pence per share.
CAB Payments’ Independent Board, together with its advisers, carried out an assessment of the proposal and concluded that the price does not reflect the group’s progress or outlook.
The board has formally communicated its rejection to StoneX.
In its evaluation, the company said it considered what it described as a “significant improvement” in financial and operational performance during FY25, alongside the medium-term guidance issued with its 2025 results.
It also consulted with major shareholders regarding the approach.
CAB Payments noted that it continues to see strategic value in the group’s relationship-led business model, its ability to win and retain clients, and its differentiated emerging-market payments network.
It added that its regulated platform and growth strategy underpinned confidence in delivering “attractive total returns” for shareholders.
Under the Takeover Code, the Panel on Takeovers and Mergers will set a deadline by which StoneX must either announce a firm intention to make an offer or confirm it does not intend to proceed.
