Equals extends takeover intention deadline for Madison for fourth time

(Alliance News) - Equals Group PLC on Wednesday said it extended a deadline for a potential buyer to announce an intention to make an offer for the fourth time, as it announced a strategic review.

The London-based payment platform developer said it extended the put up or shut up deadline for any possible bid by Madison Dearborn Partners LLC to March 20.

Further, Equals said regarding its previously announced conduct of a strategic review, it contacted a limited number of potential counterparties including Madison Dearborn, to gauge whether such parties could put forward proposals that would deliver greater value to Equals's shareholders than pursing a standalone independent strategy.

Equals shares fell 6.1% to 111.24 pence each on Wednesday morning in London.

By Tom Budszus, Alliance News slot editor

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