American Express Co is in advanced discussions to buy online small-business lender Kabbage Inc in an all-cash deal, Bloomberg News reported https://www.bloomberg.com/news/articles/2020-08-10/amex-said-to-be-in-advanced-talks-to-buy-softbank-backed-kabbage?sref=vEQJzSks on Monday.
The deal could value the Softbank Group Corp backed lender at as much as $850 million, including retention payments, the report said.
An agreement could be announced as soon as this month, Bloomberg said, though talks could still fall apart.
American Express and Kabbage declined to comment on the report.
(Reporting by Roshan Abraham in Bengaluru; Editing by Shinjini Ganguli)
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