19 October 2017
Find out more

Nets confirms $5.3 billion takeover offer

25 September 2017  |  7206 views  |  0 cash

Nordic payments processor Nets has received a $5.3 billion takeover offer from US private equity firm Hellman & Friedman.

The cash-based offer, which represents a 27% premium to the share price of Nets on 30 June 2017 when media speculation about a potential bid broke, has been accepted by shareholders representing 46% of Nets' share capital.

Inge Hansen, chairman of Nets says: "We believe the offer represents attractive value to Nets' shareholders. Hellman & Friedman approached us in June, following which we received a number of other expressions of interest and held discussions with selected parties. Having considered all options available to us, including continuing as a listed company, we are satisfied that the cash offer of DKK165 per share to all shareholders is the most attractive alternative available."

A deal is expected to be completed in Q1 2008.

The move comes amid a surge of interest in the money-generating potential of Europe's largest payment processing units as new competitors move in and consumers switch in their droves to online and mobile payments.

The Nets deal follows similar blockbuster takeovers of Worldpay and Paysafe, while speculation swirls about potential big-ticket takeovers in Switzerland, Portugal, Austria and Germany.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

SIX Payments prepares to join M&A deal frenzy

SIX Payments prepares to join M&A deal frenzy

22 September 2017  |  5454 views  |  0 comments | 5 tweets | 2 linkedin
Nets bags instant payments deal in Slovenia

Nets bags instant payments deal in Slovenia

21 September 2017  |  4689 views  |  1 comments | 3 tweets | 11 linkedin
Nets deliver instant mobile payments to Vipps partner banks

Nets deliver instant mobile payments to Vipps partner banks

12 September 2017  |  6470 views  |  0 comments | 5 tweets | 5 linkedin
Danish payments processor Nets close to $5bn buyout

Danish payments processor Nets close to $5bn buyout

01 September 2017  |  14799 views  |  0 comments
Real-time payments in play as Fiserv acquires Dovetail

Real-time payments in play as Fiserv acquires Dovetail

21 August 2017  |  12832 views  |  1 comments | 8 tweets | 19 linkedin
Blackstone/CVC agree £2.96 billion deal for Paysafe

Blackstone/CVC agree £2.96 billion deal for Paysafe

04 August 2017  |  10340 views  |  0 comments | 15 tweets | 13 linkedin
Yet more deals announced in payments sector

Yet more deals announced in payments sector

21 July 2017  |  14109 views  |  0 comments | 7 tweets | 21 linkedin
Payments sector hots up as Ingenico agrees $1.5 billion deal for Bambora

Payments sector hots up as Ingenico agrees $1.5 billion deal for Bambora

20 July 2017  |  7333 views  |  1 comments | 9 tweets | 17 linkedin
Worldpay and Vantiv agree £9.1 billion merger

Worldpay and Vantiv agree £9.1 billion merger

05 July 2017  |  9968 views  |  1 comments | 18 tweets | 21 linkedin
Worldpay and Nets shares spike on takeover talks

Worldpay and Nets shares spike on takeover talks

04 July 2017  |  7249 views  |  0 comments | 5 tweets | 4 linkedin
Nets valued at $4.5 billion in IPO

Nets valued at $4.5 billion in IPO

23 September 2016  |  5942 views  |  0 comments | 7 tweets | 3 linkedin
Nets files for IPO

Nets files for IPO

01 September 2016  |  6303 views  |  2 comments | 7 tweets | 1 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.fivedegrees.nlRegister nowvisit www.vasco.com

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
15787 views comments | 12 tweets | 4 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
8946 views comments | 16 tweets | 22 linkedin
satelliteGates Foundation backs Ripple collaboratio...
8041 views comments | 13 tweets | 10 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
7140 views comments | 9 tweets | 17 linkedin
Santander InnoVentures leads $6m funding round for Mexico's ePesosSantander InnoVentures leads $6m funding r...
6281 views comments | 6 tweets | 3 linkedin

Featured job

Competitive base + commission + benefits
New York City, NY - USA

Find your next job