Thomson Reuters offers to buy Sweden's Pagero for $627 mln (updated)

Pagero AB (publ)

11/01/2024 06:24

(Adds details from paragraph 3)
       Jan 11 (Reuters) - Thomson Reuters  TRI.TO  said on
Thursday it has offered to buy Sweden's e-invoicing and tax
company Pagero  PAGERO.ST  for 6.4 billion Swedish crowns (about
$627 million), beating an earlier offer from tax technology
company Vertex  VERX.O .
    Thomson Reuters said it has offered to pay 40 crowns in cash
for each Pagero share, representing a premium of 11% to Pagero's
last close on Wednesday.
    Thomson Reuters' bid exceeds the 36 crown per share bid
announced by Vertex for Pagero.
    In a separate statement, Pagero said its independent bid
committee of the board unanimously recommends to accept the
public offer made by Thomson Reuters, and has withdrawn its
recommendation to accept Vertex's offer.
    Thomson Reuters, the parent of Reuters News, said Pagero's
e-invoicing compliance capabilities would expand Thomson
Reuters' indirect tax offerings.
    The acceptance period for the offer starts on or around Jan.
12 and ends on or around Feb. 9 this year, the news and
information company said in a statement. 
        
 ($1 = 10.2084 Swedish crowns)

 (Reporting by Jahnavi Nidumolu in Bengaluru; Editing by Sonia
Cheema)
 ((Jahnavi.Nidumolu@thomsonreuters.com;))