Paysafe board recommends buyout
An Isle of Man payment company looks set to snap up a £3 billion buyout offer, following the recommendation of its board of directors.
Paysafe was presented with the bid last month by a European and US private equity partnership, CVC and Blackstone.
Douglas-based Paysafe, which works mainly with the eGaming industry, was listed on the FTSE250 last year.
In a statement, its directors say the latest 590p-per-share cash offer - which equates to around 14 times Paysafe's earnings - is 'fair and reasonable'.
Paysafe's largest shareholder, Old Mutual Global Investors, is also reported to have recommended the offer.