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.
