Thomson Reuters makes bid for e-invoicing firm Pagero, tops offer by Vertex
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Hey there, time traveller!
This article was published 11/01/2024 (979 days ago), so information in it may no longer be current.
TORONTO – Thomson Reuters Corp. is offering to buy Swedish company Pagero Group in a deal worth about $838 million, topping a bid for the e-invoicing firm by Vertex Inc.
The company says it’s offering 40 Swedish kronor in cash per Pagero share or a total of about 6.4 billion kronor.
Thomson Reuters says the proposal beats the offer announced by Vertex on Dec. 13 by four kronor per share.
The independent bid committee of the Pagero board unanimously recommended shareholders accept the Thomson Reuters offer and withdrew its recommendation for the Vertex bid.
Thomson Reuters says the acquisition will build on a strategic partnership announced last year.
Its offer requires acceptance by over 90 per cent of the Pagero shareholders as well as regulatory and other government approvals.
This report by The Canadian Press was first published Jan. 11, 2024.
Companies in this story: (TSX:TRI)