Cardpoint confirms Moneybox talks
12 July 2005 | 4130 views | 0
UK independent ATM operator Cardpoint has confirmed it is in advanced talks with the board of rival Moneybox about a possible cash offer of 43 pence per share for the company.
In a statement Cardpoint says the possible offer remains subject to, inter alia, the board of Moneybox recommending the offer and the completion of financing arrangements.
Market rumours suggest that Cardpoint's bid could spark a counter offer from US-based TRM, which already has an 8.8% stake in Moneybox.
Moneybox recently reported strong profit growth for the first half of 2005 after posting a full year loss of £3.42 million in 2004. The group has been in a bid period since the end of March.
Shares in Moneybox were up 2.40% to 42.00 pence in mid-day trading on the news, while Cardpoint shares were unchanged at 134.5 pence.