Thomson Reuters Proposes $627M Bid To Buy E-Invoicing Company Pagero, Outbidding Vertex's Offer
Portfolio Pulse from Lekha Gupta
Thomson Reuters Corp (NYSE:TRI) has made a public tender offer to acquire Pagero Group AB for approximately $627 million, outbidding Vertex Inc's (NASDAQ:VERX) previous offer. The offer is at a premium compared to Pagero's recent share prices on Nasdaq First North. The acquisition is subject to over 90% shareholder acceptance, with the period starting around January 12, 2024, and ending around February 9, 2024. TRI's CEO sees strategic and cultural fit with Pagero, and the company's independent bid committee recommends accepting TRI's offer over Vertex's.
January 11, 2024 | 12:39 pm
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POSITIVE IMPACT
Thomson Reuters has proposed a $627M bid to acquire Pagero, which is expected to enhance its ONESOURCE tax offerings. The bid is at a premium and recommended by Pagero's board.
The acquisition of Pagero is likely to be viewed positively as it enhances TRI's product offerings and is recommended by Pagero's board, which may lead to a short-term positive impact on TRI's stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Vertex Inc's previous offer to acquire Pagero has been outbid by Thomson Reuters. The board of Pagero recommends accepting TRI's offer over Vertex's.
Vertex's position as a potential acquirer of Pagero has been weakened by TRI's higher bid, which is recommended by Pagero's board. This could negatively impact VERX's stock in the short term as the market may perceive this as a lost opportunity.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 70