CAB Payments (LON: CABP) saw its shares jump 3.9% on Friday morning following the company’s announcement that it has rejected an unsolicited, non-binding takeover proposal from StoneX Group Inc.
The board concluded the offer significantly undervalued the company and its future prospects.
StoneX’s possible offer, announced on March 16, 2026, proposed acquiring all CAB Payments shares at 95 pence per share in cash. The offer was contingent upon several pre-conditions.
The Independent Board of CAB Payments, after careful evaluation with its advisors, unanimously rejected the StoneX Possible Offer. The board emphasized the significant improvement in the company’s financial and operational performance in FY25 and the medium-term financial guidance provided during the 2025 results announcement.
The board also highlighted its engagement with larger shareholders, reinforcing its confidence in CAB Payments’ intrinsic value. The company’s relationship-led approach, its differentiated emerging market network, and regulated platform were key factors supporting the board’s decision.
The company reiterated that there is no certainty an offer will be made by StoneX, with no certainty as to the terms on which any offer might be made. CAB Payments shareholders are advised to take no action at this time.
The Panel will announce the deadline by which StoneX is required to announce a firm intention to make an offer for CAB Payments or announce that it does not intend to make an offer.
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