Finextra News: Nets confirms $5.3 billion takeover offer

27th September 2017
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Nordic payments processor Nets has received a $5.3 billion takeover offer from US private equity firm Hellman & Friedman.

The cash-based offer, which represents a 27% premium to the share price of Nets on 30 June 2017 when media speculation about a potential bid broke, has been accepted by shareholders representing 46% of Nets’ share capital.

Inge Hansen, chairman of Nets says: “We believe the offer represents attractive value to Nets’ shareholders. Hellman & Friedman approached us in June, following which we received a number of other expressions of interest and held discussions with selected parties. Having considered all options available to us, including continuing as a listed company, we are satisfied that the cash offer of DKK165 per share to all shareholders is the most attractive alternative available.”

A deal is expected to be completed in Q1 2008.

The move comes amid a surge of interest in the money-generating potential of Europe’s largest payment processing units as new competitors move in and consumers switch in their droves to online and mobile payments.

The Nets deal follows similar blockbuster takeovers of Worldpay and Paysafe, while speculation swirls about potential big-ticket takeovers in Switzerland, Portugal, Austria and Germany.