Thomson Reuters Announces Recommended Public Tender Offer To Acquire 100% Shares Of Pagero Group AB At SEK 40/Share In Cash
Portfolio Pulse from Benzinga Newsdesk
Thomson Reuters Corporation has announced a tender offer to acquire all shares of Pagero Group AB for SEK 40 per share in cash, totaling approximately SEK 6.4 billion. The offer is contingent on over 90% shareholder acceptance and represents a premium over recent trading prices and Vertex's previous offer. The acceptance period is set to start on January 12, 2024, with settlement expected around February 16, 2024, if conditions are met.
January 11, 2024 | 7:15 am
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Thomson Reuters has proposed to acquire Pagero Group AB for SEK 40/share, a move that could expand its market presence and offerings. The offer is at a premium to recent trading prices and higher than a competing offer from Vertex.
The acquisition of Pagero Group AB by Thomson Reuters is likely to be viewed positively by investors as it could enhance the company's product portfolio and market reach. The premium offered over the current trading price and the higher bid compared to Vertex's offer suggest a strategic importance to Thomson Reuters. This could lead to a short-term positive sentiment in TRI's stock price, assuming the market perceives the acquisition as accretive to earnings and strategically sound.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100