- Strategic review commenced
- Earnings momentum supports decent bid premium
Aim-traded fintech payments group Equals (EQLS:112p), a fast-growing challenger brand in banking and international payments, has commenced a strategic review that could lead to a bid for the company.
Although the board is confident in the long-term prospects of the business and can see the potential to deliver significant shareholder value as an independent entity, the directors acknowledge that other counterparties may be able to deliver even greater value to shareholders. A small number of counterparties have been contacted to assess their interest in the company, including Madison Dearborn Partners LLC, an American private equity firm.