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Earthport Shares Dip As MasterCard Offer Lapses On Lack Of Acceptances

Fri, 08th Mar 2019 15:43

LONDON (Alliance News) - MasterCard International Inc on Friday said its takeover offer for Earthport PLC has lapsed on lack of acceptances.

Earthport shares were trading 24% lower following the announcement on Friday at 36.40 pence each.

MasterCard UK Holdco Ltd, an indirectly wholly-owned subsidiary of MasterCard Inc, had received valid acceptances in respect of a total of 1.9 million Earthport shares, representing 0.3% of the company's 652.6 million share capital.

On Wednesday last week, Mastercard urged Earthport shareholders to "take no action" on rival Visa Inc's offer for the London-listed cross-border payments firm.

Visa initially made a bid of 30 pence per share in December 2018. However, in late January, Mastercard came in with its own offer at 33p.

Visa has since upped its offer to 37 pence per share, which values Earthport at around GBP247 million fully diluted. The new figure is 12% above Mastercard's offer and 23% higher than the original Visa bid.

In addition, MasterCard confirmed on Friday that it has exercised its right to terminate the cooperation agreement entered into with Earthport with immediate effect.

More News
22 Oct 2018 10:18

Earthport Appoints Sabharwal Interim Chair As Hickman, Uberoi Retire

LONDON (Alliance News) - International payment processing firm Earthport PLC said Monday it appointed Non-Executive Director Sunil Sabharwal as its interim chairman as its current chair retires -

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25 Jul 2018 12:28

Earthport losses widen in 'challenging' year

(Sharecast News) - Cross-border payment network Earthport issued an unaudited trading update for the fiscal year ended 30 June on Wednesday, reporting a 5.3% improvement in revenue to £31.9m.

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25 Jul 2018 11:53

Earthport Appoints New Chief Financial Officer As Annual Revenue Rises

LONDON (Alliance News) - Cross-border payments network provider Earthport PLC said on Wednesday in for its recently ended financial year its loss widened in spite of revenue growth.In the

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24 May 2018 15:33

Earthport Hires Microsoft, Misys And Logica Executive As New CEO

LONDON (Alliance News) - Cross-border payments provider Earthport PLC said on Thursday it has appointed Amanda Mesler as chief executive officer with effect on July 1.She will replace Hank

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22 May 2018 17:15

DIRECTOR DEALINGS: Earthport Executive Chairman Buys Shares

LONDON (Alliance News) - Earthport PLC said that Executive Chairman Hank Uberoi purchased 250,000 shares on Monday at a price of 9.1 pence per share.Following this transaction, Uberoi now a

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27 Mar 2018 13:22

Earthport Interim Loss Widens But Maintains Full-Year Expectations

LONDON (Alliance News) - Earthport PLC said on Tuesday its interim loss widened as it encountered "clear challenges" though it remains confident in meeting for the a

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20 Mar 2018 12:21

Earthport Expands Services Partnership With Japan Post Bank

LONDON (Alliance News) - Cross-border payment services provider Earthport PLC said on Monday it has enlarged its partnership with Japan Post Bank regarding the delivery of a a

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31 Jan 2017 08:16

Earthport revenue increases as cross-border transactions surge

(ShareCast News) - Cross-border payment provider Earthport expects to report an increase in revenue supported by a rise in the number of transactions and payment volumes for the first half of the year. During the six months ended 31 December 2016, the company strengthened its relationship with with

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12 Dec 2016 07:58

Earthport expands cross-border payments service with BofAML

(ShareCast News) - Bank of America Merrill Lynch's clients will now be able to access cross currency payments in over 60 countries and nearly 25 currencies after it expanded its service with AIM-listed Earthport. Cross-border payments company Earthport's service will add new countries and currencies

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21 Nov 2016 09:31

Payment Network Earthport Signs Agreement With India's Axis Bank

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21 Nov 2016 07:51

Earthport expands cross-border payments in India

(ShareCast News) - Axis Bank has become the first Indian bank to use Earthport's, cross-border payments service, following approval from the country's central bank. India's third largest private bank will allow its clients to make outbound cross-border payments through the AIM-listed company's netwo

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3 Nov 2016 12:20

Earthport wins cross-border payments approval from Reserve Bank of India

(ShareCast News) - AIM-listed Earthport has received approval from the Reserve Bank of India for operating cross-border payment services for banks as it expands in the country. Earthport could already make inbound payments into India for its overseas clients, and now with the central bank's approval

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26 Oct 2016 08:59

Earthport's revenue rises as European, North American transactions grow

(ShareCast News) - Cross-border payment network Earthport's revenue increased as investments during the year helped improve transaction flows in European and North American banks. Revenue climbed 18% for the year ended 30 June, to £22.8m, compared to last year, while transactional revenues comprised

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26 Oct 2016 08:17

Earthport Aims For Positive Cashflow After Year Of Slow Growth

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19 Oct 2016 15:07

UK Earnings, Trading Statements Calendar - Next 7 Days

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