Updates

Paysafe - 590p cash bid approach

August 2017

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Hot on the heels of a £7.7bn bid by US credit card processor Vantiv for Worldpay, Paysafe has also received a takeover bid from Blackstone and CVC Partners of 590p cash per share and values it at £2.9bn (US$3.7bn). Old Mutual, Paysafe’s largest shareholder with 10% of the shares, has recommended the takeover. Separately, Paysafe has also agreed to acquire MCPS, a payment processor based in Texas, for US$470m. MCPS reported adjusted sales of US$329m and ebitda of US$49m in the year ended 31 December 2016 before synergies. It reduces Paysafe's revenue exposure to online gambling from 46% to 35% and revenue from the Asia Gateway business from approximately 13% to 10%.The bid approach is a 67 ...

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