In today’s briefing:
- SmartPay (SPY NZ/SMP AU): 14th October Vote On Shift4’s Offer
- FleetPartners (FPR AU): Mitsubishi Motors’ Register Raid Foreshadows An Offer
SmartPay (SPY NZ/SMP AU): 14th October Vote On Shift4’s Offer
- Back on the 23rd June, eftpos terminal provider SmartPay Holdings (SMP AU/NZ) entered into a Scheme Implementation Deed withShift4 Payments (FOUR US).
- Shift4 is offering NZ$1.20, a 90.5% premium to undisturbed. The Offer has the unanimous backing of both boards. Microequities with 13.3% of shares out, is supportive.
- The Scheme Booklet is now out, with a Scheme Meeting on the 14th October, and expected implementation on or before the 4th November. The IE (Calibre) says “fair & reasonable“.
FleetPartners (FPR AU): Mitsubishi Motors’ Register Raid Foreshadows An Offer
- Mitsubishi Motors (7211 JP) has aggressively built a 19.93% position in FleetPartners (FPR AU), an Aussie provider of fleet leasing services, paying up to $3.10/share for a ~15% stake.
- Earlier this year, Sydney PE outfit Pacific Equity Partners privatised Sg Fleet (SGF AU), one of FleetPartners key competitors.
- MMC said it has no current intention to acquire control or a make a takeover offer. Mmm. I wouldn’t be so sure.
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