14th Mar 2019 14:09
LONDON (Alliance News) - Earthport PLC on Thursday said that FTSE 100-listed bank Barclays PLC lowered its interest in the company to "below the lowest applicable threshold".
Prior to the deal, completed on Wednesday, Barclays held a 5.02% stake in the cross-border payments platform.
On Wednesday, Visa, which is in the process of acquiring Earthport, said it received acceptances for the merger representing 267.7 million shares, equal to a 41.02% stake.
The offer period has been extended to April 30, Visa, which urged the remaining Earthport shareholders to accept it, said.
Following completion of the takeover, Visa plans to cancel Earthport's shares from their AIM Market listing.
Shares in Earthport were trading down 0.1% at 36.154 pence on Thursday.