Network International shares surge on rival 400p proposal from Brookfield
Network International Holdings
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Shares in payments firm Network International surged on Friday after it confirmed it had received a “highly preliminary” rival 400p a share cash offer from Canada's Brookfield Asset Management.
FTSE 250
20,522.81
16:38 14/11/24
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FTSE 350
4,459.02
16:38 14/11/24
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FTSE All-Share
4,417.25
16:54 14/11/24
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Support Services
10,979.10
16:38 14/11/24
-0.90%
-99.39
The latest bid trumps a non-binding takeover proposal from a consortium of CVC and Francisco Partners about a cash offer of 387p a share which Network said it was minded to accept if a firm bid was made.
“The board of Network is currently evaluating the Brookfield Proposal with its financial advisers and a further statement will be made in due course. There can be no certainty that an offer will be made by Brookfield, nor as to the terms on which any offer might be made,” the company said on Friday.
Reporting by Frank Prenesti for Sharecast.com