Payments company Worldline agreed on Monday to buy French rival Ingenico in a 7....
Worldline shares pared earlier losses but were still 2.6% lower, reflecting some concerns that it is paying a hefty premium to buy Ingenico.
Ingenico shareholders would receive 11 Worldline shares and 160.5 euros in cash for seven Ingenico shares, in a primary tender offer. There would also be a secondary offer, with 56 Worldline shares exchanged for 29 Ingenico shares, translating into an offer price of 123.10 euros per Ingenico share. The Ingenico division housing its card terminal business, one area where it has struggled more in recent years, will undergo a strategic review, Worldline’s Grapinet said.
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