12th Jun 2024 09:53
Equals Group PLC - London-based payments firm for small and medium enterprises - Madison Dearborn Partners LLC confirms it won't make a takeover offer for Equals. The Chicago-based private equity firm had a deadline of Wednesday to say whether or not it intended to make an offer. Equals had approached Madison Dearborn, among other potential bidders, as part of a strategic review last November. Equals on Wednesday says it continues to talk to Madison Dearborn and its portfolio company MoneyGram International Inc about a commercial agreement for the Equals consumer business and technology platform. Equals also notes that takeover talks continue with a consortium consisting of Embedded Finance Ltd, or Railsr, and TowerBrook Capital Partners UK LLP. Equals has extended the put-up-or-shut-up deadline for the consortium to July 10.
Current stock price: 111.00 pence, down 8.6% in London on Wednesday
12-month change: up 10%
By Tom Waite, Alliance News editor
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