IN BRIEF: Madison Dearborn backs away from takeover offer for Equals

Equals Group PLC - London-based payments firm for small and medium enterprises - Madison Dearborn ...

Alliance News 12 June, 2024 | 8:53AM
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Equals Group PLC - London-based payments firm for small and medium enterprises - Madison Dearborn Partners LLC confirms it won't make a takeover offer for Equals. The Chicago-based private equity firm had a deadline of Wednesday to say whether or not it intended to make an offer. Equals had approached Madison Dearborn, among other potential bidders, as part of a strategic review last November. Equals on Wednesday says it continues to talk to Madison Dearborn and its portfolio company MoneyGram International Inc about a commercial agreement for the Equals consumer business and technology platform. Equals also notes that takeover talks continue with a consortium consisting of Embedded Finance Ltd, or Railsr, and TowerBrook Capital Partners UK LLP. Equals has extended the put-up-or-shut-up deadline for the consortium to July 10.

Current stock price: 111.00 pence, down 8.6% in London on Wednesday

12-month change: up 10%

By Tom Waite, Alliance News editor

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Equals Group PLC 110.50 GBX 1.38 -

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