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Mastercard trumps Visa with £233m offer for Earthport

Mastercard trumps Visa with £233m offer for Earthport

January 25, 2019

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As reported earlier this month, Visa made an £198 million offer. At that time, the board of UK-based Earthport was recommending shareholders vote in favour of the deal.

However, in the latest development, Mastercard has stepped in to upset proceedings.

Earthport’s interim chairman, Sunil Sabharwal, says: “The board of Earthport is pleased to recommend Bidco’s [he could just say Mastercard] cash offer for Earthport, which is at a 10% premium to the Visa proposal. This offer provides our shareholders with even greater value in cash for their shares.”

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