Ingenico receives EUR1.44bn takeover offer

Ingenico receives EUR1.44bn takeover offer

French payment terminal vendor Ingenico says it has received a takeover offer worth around EUR1.44 billion from an undisclosed bidder.

In a brief statement, the company reveals that the non-binding offer for 100% of its stock at EUR28 a share came on 14 December.

The offer is subject to board approval and "ongoing discussions may or may not lead to a transaction".

Trading in Ingenico shares has been suspended and the firm says it will issue a new statement before trading on Euronext Paris resumes on Monday.

Shares in Ingenico closed yesterday at EUR26.54 and rose steadily today to a high of EUR27.66 before the suspension.

Last month American rival VeriFone signed a $485 million, all-stock, definitive agreement to buy another player Hypercom, giving it a strong presence in Ingenico's home European market.

The French firm made its own unsuccessful, unsolicited $332 million bid for Hypercom in 2008, contingent on the US vendor dropping its own proposal to acquire a card payments business from Thales.

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