© Reuters.

(Reuters) – Shares of Pushpay Holdings Ltd surged on Tuesday after the New Zealand-based payments group confirmed that it was in early talks with multiple parties over a potential acquisition.

Pushpay said it received multiple approaches last month to purchase the payment platform, but any deal to implement a transaction had not been reached.

Shares of Pushpay, which are listed in both New Zealand and Australia, were on a trading halt earlier in the day as the company weighed the implications of a deal between two existing shareholders, Australian private equity firm BGH Capital and U.S.-based investment manager Sixth Street Partners.

The two firms, which hold an aggregate 20.343% stake in Pushpay, will work together to acquire Pushpay’s shares.

The payment platform said it had not entered any deal with any party, including either or both of BGH Capital and Sixth Street, to implement a transaction.

The company said it was in early-stage discussion with multiple parties “to explore the potential for a transaction which is in the best interests of shareholders as a whole.”

Pushpay’s New Zealand-listed shares jumped nearly 21%, while those in Australia surged about 17%.

The company has a market value of about NZ$1.41 billion ($907.19 million), as of Tuesday.

($1 = 1.5542 New Zealand dollars)

Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here