Shares in Cab Payments Holdings PLC (LSE:CABP) climbed sharply on Monday, rising 12.9% after the company disclosed that it had received a potential takeover approach from StoneX Group.
StoneX said it had put forward an all-cash proposal to acquire the payments firm at 95 pence per share. The indicative offer represents a 32% premium to CAB Payments’ undisturbed closing price of 72 pence on January 30 and an 11% premium to the 85 pence per share offer made by the Helios Consortium on March 2.
CAB Payments confirmed that its independent board is currently reviewing the proposal from StoneX. As part of this process, directors will also assess the group’s financial and operational performance for the 2025 fiscal year.
StoneX said it believes there is strong strategic alignment between CAB Payments’ operations and its own payments division. According to the company, combining the two businesses could create a specialist platform focused on payments across emerging markets. StoneX added that it believes it would be the most suitable long-term owner for CAB Payments.
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