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An announcement from Payfare ( (TSE:PAY) ) is now available.
Payfare Inc. has reiterated its Board of Directors’ unanimous recommendation for shareholders to vote in favor of the proposed acquisition by Fiserv, Inc. This transaction offers an all-cash offer of CA$4.00 per share, representing a significant premium of approximately 90% over the market price prior to the announcement. The Board, along with a special committee of independent directors, conducted a thorough strategic review process, ultimately determining that Fiserv’s offer provided the most value to shareholders compared to other potential options. Despite opposition and misleading statements from Kingsferry Capital Management Group, no superior alternative has been presented, making this transaction a compelling choice for stakeholders.
More about Payfare
Payfare Inc. operates within the financial services industry, providing digital banking and instant payment solutions primarily aimed at gig economy platforms and their workers. The company offers products that facilitate financial inclusion by delivering immediate access to earnings and associated banking services, focusing on enhancing the financial well-being of its users.
YTD Price Performance: 1.29%
Average Trading Volume: 459,256
Technical Sentiment Consensus Rating: Buy
Current Market Cap: C$189M
See more data about PAY stock on TipRanks’ Stock Analysis page.
