StoneX Tables Proposal for CAB Payments, Board Reviews Approach | LeapRate | Online Trading Industry News, Broker Intelligence & Fintech Analysis
StoneX Group has approached the board of CAB Payments Holdings with an unsolicited, non-binding proposal to acquire the company for 95 pence per share in cash.
The possible offer represents a 32 percent premium to CAB Payments’ undisturbed closing price on 30 January and an 11 percent premium to the 85 pence per share firm offer previously announced by the Helios Consortium.
StoneX said the all-cash proposal would allow shareholders to monetise their holdings “at an attractive valuation,” adding that the potential combination of the two businesses could create a leading global specialist in emerging-markets payments.
The company said it sees a “high degree of complementarity” between the firms and believes it would be the “best long-term owner and custodian” of CAB Payments.
The proposal remains subject to several pre-conditions, including satisfactory due diligence, a unanimous board recommendation and hard irrevocable undertakings from CAB Payments’ directors, the Helios Consortium and Eurocomm Holding Limited. StoneX reserved the right to vary the form or terms of any future offer.
In a separate statement, CAB Payments confirmed receipt of the 95 pence proposal and said its independent board is evaluating the approach with financial and legal advisers.
The board said it would consider the company’s “significant improvement” in financial and operational performance in FY25 and recent guidance issued on 5 March. It added that there is no certainty an offer will be made and advised shareholders to take no action for now.
