Canadians win 2bn bidding battle for payments processor
Daily Mail The Canadian investment giant led by Mark Carney has won a 2.2billion bidding war for payments firm Network International making it the latest London-listed firm to be snapped up by foreign suitors.
Brookfield Asset Management has agreed to buy the credit card processor in a 400p-a-share deal a 64 per cent premium to the group's value before the takeover battle first kicked off in April.
The offer trumped a rival 387p-a-share proposal from a consortium including private equity giant CVC Capital Partners.
The proposed takeover by Brookfield, where former Bank of England Governor Carney is chairman, comes amid frenzied interest in British companies.
A host of targets were snapped up after Covid struck in what was dubbed 'pandemic plundering' as predators swooped on firms with bombed-out share prices. Last week veterinary drugs maker Dechra Pharmaceuticals agreed a 4.5billion takeover led by Swedish private equity outfit EQT.
