trending Market Intelligence /marketintelligence/en/news-insights/trending/sbh6dzvuwphvt5_estbk3w2 content esgSubNav
In This List

Verifone receives no competing acquisition proposals during 'go-shop' period

Blog

Fintech Intelligence Digital Newsletter: May 2021

Street Talk – Episode 76: Record pace of fintech M&A, funding in Q1'21 has legs

Fintech Intelligence Digital Newsletter: April 2021

Podcast

Street Talk | Episode 76: Record pace of fintech M&A, funding in Q1'21 has legs


Verifone receives no competing acquisition proposals during 'go-shop' period

Verifone Systems Inc. received no competing acquisition offers during the "go-shop" period included in its pending deal with a private investor group.

The company's ability to consider other offers was part of its going-private agreement with an investor group led by Francisco Partners Management LP. On April 9, the investor group agreed to acquire Verifone for approximately $3.4 billion, including the company's net debt.

During the "go-shop" period, which ended May 24, the payment and commerce solutions company was in contact with around 42 potential acquirers. Of these, four executed non-disclosure agreements, but none submitted an acquisition proposal.

The deal is expected to close in the third quarter, subject to approvals from regulators and Verifone shareholders.