trending Market Intelligence /marketintelligence/en/news-insights/trending/DBxbbuESIVrRYXreh7dlLg2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

US fintech firm Fiserv increases offer for UK's Monitise

Amid Q1 APAC Fintech Funding Slump, Payment Companies Drove Investments

Paypal Well-Positioned To Gain Share In COVID-Related Digital Payments Shift

Digital Banking Battles Will Play Out In Southeast Asias Shopping Cart

Report: Kashkari Says Fed In Holding Pattern But Rate Cut Still Possible


US fintech firm Fiserv increases offer for UK's Monitise

U.S. financial technology firm Fiserv Inc. increased its offer for U.K. payments company Monitise Plc, valuing the latter at about £75 million.

The two companies had agreed on the terms of a deal worth £70 million, or 2.90 pence per share, in June. However, Monitise's largest investor, Cavendish Asset Management, protested the transaction, arguing that the valuation was too low.

The boards of Fiserv and Monitise said Aug. 7 that they have now agreed an increased and final offer of 3.10 pence in cash per Monitise share. This represents a 34.8% premium to Monitise's closing price June 12, the last trading day before the initial announcement, the firms said.

The revised offer will not be increased except in the event of counterbids by other parties. The purchase price will be funded through debt funding from bank facilities provided to Fiserv. Monitise would be delisted from the London Stock Exchange's AIM market shortly after the takeover date.

Fiserv pointed to various challenges facing Monitise, saying its revenue "continues to decline and outstrip cost-cutting initiatives;" that its cash balance "continued to decline during the period to June 30;" and that there are "substantial uncertainties" about its ability to benefit from tax losses. It urged shareholders to accept the new offer.

J.P. Morgan Securities LLC, together with affiliate J.P. Morgan Ltd., is acting as financial adviser to Fiserv. Canaccord Genuity Ltd. is acting as financial adviser to Monitise.