Wameja LTD (LON: WJA) shares today rallied 35% after announcing that it had accepted a buyout offer by Mastercard for a sum of £96.9 million ($126 million).
Mastercard will make the acquisition via its subsidiary Burst Acquisition Co. Pty. Ltd, where existing shareholders shall receive 8p for each share, a 39% premium to yesterday’s closing price of 5.75p.
The company clarified that the deal has the unanimous support of its Board as well as from Lombard Odier Asset Management (Europe) Ltd. which owns 23.5% of Wameja's issued share capital.
The deal still has to receive approval from the National Bank of Belgium and the Australian Foreign Investment Review Board.
Wameja is currently a joint-venture partner with Mastercard in the Homesend cross-border transfer network.
Wameja share price
Wameja shares today surged 35% higher to trade at 7.76p having ended yesterday’s session trading at 5.75p.