Alphyra possible takeover target for Euronet

According to a report in the Sunday Times, Euronet Worldwide, is considering making a takeover bid for Alphyra. Euronet, quoted on Nasdaq, is an US electronics payment company.

According to a report in the Sunday Times, Euronet Worldwide, is considering making a takeover bid for Alphyra. Euronet, quoted on Nasdaq, is a US electronics payment company.

Euronet operates an independent automated teller machine (ATM) network in Europe. Through its software subsidiary, (Euronet USA), the company provides integrated software solutions for electronic payment and transaction delivery systems.

On Friday Rendina, the management buyout vehicle for Alphyra, increased its offer to €2.70 per share, valuing the company at €88m. Rendina original offer of €2.45 per share had been accepted by shareholders owning 34.5% of the company, many shareholders apparently not being happy with the offer or being willing to wait for a better deal.

The new offer is still below the indicative offer by First Data Corporation of €2.80 per share which was withdrawn after a couple of days.