Visa: raises bid for Earthport, tops Mastercard's offer
(CercleFinance.com) - Visa on Friday raised its all-cash offer for Britain's Earthport to 247 million pounds, topping a previous bid made by its competitor Mastercard.
Under the terms of the increased bid, each Earthport shareholder would receive 37 pence in cash for each share they hold, which represents a 12% premium above Mastercard's earlier offer.
Last month, Mastercard announced an all-cash offer for all the shares of the British payment company at a price of 33 pence each.
In a statement on Friday, Mastercard said it was considering its options, urging Earthport shareholders to take "no action" in response to the announcement by Visa.
The Earthport share is currently trading at 44.1 pence, up 13.7%.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
Under the terms of the increased bid, each Earthport shareholder would receive 37 pence in cash for each share they hold, which represents a 12% premium above Mastercard's earlier offer.
Last month, Mastercard announced an all-cash offer for all the shares of the British payment company at a price of 33 pence each.
In a statement on Friday, Mastercard said it was considering its options, urging Earthport shareholders to take "no action" in response to the announcement by Visa.
The Earthport share is currently trading at 44.1 pence, up 13.7%.
Copyright (c) 2019 CercleFinance.com. All rights reserved.