StoneX Group Inc. (NasdaqGS:SNEX) proposed to acquire CAB Payments Holdings Limited (LSE:CABP) for £241 million on March 15, 2026. As cash consideration £0.95 per share in cash was paid towards the equity shares of CAB Payments Holdings Limited.
The transaction is subject to consummation of due diligence investigation. The unanimous and unconditional recommendation of our Proposal by the Board of CAB Payments to its shareholders and receipt of hard irrevocable undertakings from each CAB Payments director, the Helios Consortium and Eurocomm Holding Limited, committing to support our Proposal. The Board of Directors of CAB Payments Holdings Limited formed a special committee for the transaction.
David Wyles, Timm Schipporeit, Edyta Lipka and Adnan Choudhury of Perella Weinberg Partners LP acted as financial advisor for StoneX Group Inc. James Woolf, Aamir Khan, Anusuya Nayar and Michael Hart of Barclays Bank PLC acted as financial advisor for CAB Payments Holdings Limited. Kunal Gandhi, Tom Murphy and Tihomir Kerkenezov of Fenchurch Advisory Partners LLP acted as independent financial advisor for independent board of CAB Payments Holdings Limited. Allen Overy Shearman Sterling LLP acted as legal advisor for CAB Payments Holdings Limited. Chris Baird, Kamalini Hull and Luke Spells of Investec Bank plc acted as Financial Advisor and joint Corporate broker for CAB Payments Holdings PLC. Toby Gibbs, Malachy McEntyre, Oliver Jackson and Harry Davies-Ball of Shore Capital acted as joint broker for CAB Payments Holdings PLC. Edward Bridges and Katherine Bell of FTI Consulting LLP acted as PR adviser for CAB Payments Holdings PLC.
StoneX Group Inc. (NasdaqGS:SNEX) cancelled the acquisition of CAB Payments Holdings Limited (LSE:CABP) on March 20, 2026. The Independent Board of CAB Payments together with its advisers, has carefully evaluated the StoneX Possible Offer and concluded unanimously that it significantly undervalues CAB Payments and its future prospects. Accordingly, the Independent Board has communicated to StoneX that it has rejected the StoneX Possible Offer. CAB Payments shareholders are advised to take no action at this time.
CAB Payments Holdings plc is a United Kingdom-based holding company for Crown Agents Bank. The Company is engaged in business-to-business cross-border payments and foreign exchange (FX), specializing in hard-to-reach markets. Its products include EMpower FX, EMpower Payments, EMpower Connect, and EMpower Pensions. EMpower FX is an end-to-end automated payments gateway for cross-border payments to banks and mobile wallets in hard-to-reach markets. EMpower Payments is a digital platform for day-to-day exposures in foreign exchange. EMpower Connect is a single account that supports cross-border and FX payment needs across hundreds of currencies. EMpower Pensions allows fund managers to leverage a combination of tech and specialist banking experience for the holistic delivery of pension payroll. Its customer base includes banking groups, major market banks, financial institutions, non-banking financial institutions, and international development organizations.
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