May 21, 2022

EML Payments (ASX:EML) discusses Bain Capital takeover report – The Market Herald

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  • Payment solutions company EML Payments (EML) addresses media reports of a potential takeover by Bain Capital this morning
  • EML said that although there was a potential change of control proposal, discussions have now ceased.
  • The AFR reported this morning that EML had a series of discussions with Bain regarding a potential takeover, however, neither could reach an agreement.
  • EML shares are up 9.77% today, trading at $2.92

Payment solutions company EML Payments has addressed speculation of a takeover by Bain Capital, saying that although there were discussions earlier this year, they have now ceased. The potential for a takeover was flagged this morning by the Australian Financial Review, which revealed there had been a series of takeover talks between the two, including an ‘exclusivity deal’ which ceased in March because the two could not reach an agreement. . “EML’s Board of Directors will always consider proposals presented to the Company and is fully committed to acting in the best interests of EML shareholders and maximizing their value,” EML said. “EML has appointed Goldman Sachs as financial advisor and Herbert Smith Freehills as legal advisor.” EML shares rose 9.77% today, trading at $2.92 at 2:58 p.m. AEST.