UK's Alpha Group rejects all-cash proposal from Corpay (updated)
06/05/2025 07:15
Adds background in paragraph 2 & 4, details from Alpha's statement in 3 May 6 (Reuters) - British financial services provider Alpha Group International ALPH.L on Tuesday said it had rejected an all-cash proposal from U.S.-based business payments firm Corpay CPAY.N. Corpay, which offers tools that allow businesses to make payments to vendors, had expressed its interest in the British company about a possible takeover last week. Alpha confirmed on Tuesday that it had received a preliminary and conditional all-cash proposal from Corpay, but did not disclose a reason for rejecting it. The U.S. firm is required by law to announce a firm offer for Alpha or walk away by May 30. The deadline can also be extended with the consent of the UK Takeover Panel. (Reporting by Yamini Kalia in Bengaluru; Editing by Nivedita Bhattacharjee) ((Yamini.Kalia@thomsonreuters.com;))