Earthport Agrees to GBP198 Million Offer From Visa
December 27 2018 - 3:20AM
Dow Jones News
By Ian Walker
Earthport PLC (EPO.LN), a provider of payment services to banks
and businesses, said Thursday that it has agreed to a 198
million-pound ($250.5 million) cash offer from Visa Inc. (V).
The offer, which is 30 pence a share, is a significant premium
to the company's closing share price of 7.45 pence on Dec. 24.
The offer has the support of shareholders owning 108.8 million
Earthport shares, or 17.45% of its issued share capital.
Visa will fund the deal from existing cash resources, the
companies said in a joint statement.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
December 27, 2018 03:05 ET (08:05 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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