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CAB Payments Holdings PLC on Thursday said it would be ‘minded to recommend’ an increased takeover offer from StoneX Group Inc worth around £287 million. The London-based payment processing firm said it received the increased possible offer at 110 pence per share from New York-based financial services firm StoneX last Thursday, following its previous non-binding proposal at 95p per share. Shares in CAB Payments were up 10% at 96.60p on Thursday morning in London. CAB Payments said its independent board would be minded to recommend the offer to its shareholders if StoneX were to announce a firm intention to make an offer. Last month, CAB Payments urged Helios Investment Partners LLP to consider making a higher offer after its largest shareholder declined to provide an irrevocable undertaking for the 95p bid from StoneX. Helios, which owns 45% of London-based payment processing firm CAB Payments, said it considered its $1.15 per share offer the ‘only firm and deliverable’ bid available to CAB Payments shareholders after rejecting the call from StoneX. The latest StoneX offer is at a 52% premium to CAB Payments’ undisturbed closing price on January 30, before the Helios consortium first announced a possible offer. It is at a 29% premium to Helios’ firm offer price of $1.15 per share. On Thursday, CAB Payments encouraged the Helios consortium to ‘engage constructively’ with it and StoneX, as it said it believes the StoneX offer ‘would be in the best interests of the company’s shareholders as a whole, including minority shareholders’. There can be no certainty that any firm offer will be made by StoneX. The increased final possible offer is subject to the satisfaction or waiver of preconditions, including the completion of due diligence. StoneX also require the receipt of irrevocable undertakings to support the transaction from each CAB Payments director, the members of the Helios consortium who own or control company shares and Eurocomm Holding Ltd to accept the offer. In October 2024, StoneX made a 145p approach per share bid for CAB Payments but subsequently declined to make an offer. CAB Payments listed back in 2023 with an initial public offer price of 335p per share. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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