Australia's EML Payments soars on disclosing takeover bid from Bain Capital

EML Payments

13/04/2022 01:45

** Shares of EML Payments Ltd  EML.AX  jump as much as 14.3%
to A$2.96, their biggest intraday pct gain since Nov. 25
    ** The payment solutions provider says it was in discussion
with U.S.-based investment firm Bain Capital regarding a
potential change of control proposal earlier this year, but said
discussions have now ceased  urn:newsml:reuters.com:*:nASXb78Zw6
    ** Local media reported https://12ft.io/proxy?q=https://www.afr.com/street-talk/bain-capital-checks-out-eml-payments-bankers-chase-other-buyers-20220412-p5acvc
 on April 12 that EML had several rounds of takeover talks with
Bain Capital, including a period of exclusivity which saw Bain
gain access to EML's books
    ** EML has a market capitalisation of A$988 million 
($735.76 million), according to data from Refinitiv Eikon
    ** Stock down 17.7% this year as of last close
  


($1 = 1.3428 Australian dollars)

 (Reporting by Harish Sridharan in Bengaluru)
 ((harish.sridharan@thomsonreuters.com))