StoneX Will Not Make Acquisition Offer For CAB Payments

This decision comes after a series of approaches made by StoneX to CAB Payments since July 2024. 

The initial offer from StoneX valued CAB Payments at £1.15 per share, which was rejected by the CAB Payments board. A subsequent revised offer of £1.45 per share was also considered but ultimately declined. The revised proposal consisted of both cash and a full share alternative.

The offer represented an 18% premium over CAB Payments’ stock price of 123 pence.

Following StonX’s announcement, CAB Payments said in a statement that it is confident in its current strategy and future growth prospects. 

The company explained that it plans to focus on four key areas: strengthening its network, deepening client relationships, leveraging its banking license, and investing in innovation.

With StoneX’s withdrawal, CAB Payments will continue to pursue its independent growth strategy. The company is expected to provide an update on its full-year trading performance in January 2025.

CAB Payments was listed on the London Stock Exchange in July last year. However, its stock price has declined significantly since then. Today’s news has seen it plunge a further 20% lower.