CAB Payments Holdings PLC on Friday rejected an offer approach by StoneX Group Inc, after an evaluation that lasted for less than a week.
It is the second possible offer the London-based payment processing firm has rejected in just over a month for undervaluing its perceived future prospects, after turning its back on an offer by a consortium in mid-February.
The potential offer by StoneX came at 95 pence per share in cash, higher than the $1.15 per share, or about 86 pence, offer from a consortium led by the London-based private equity firm Helios Investment Partners LLP.
StoneX’s possible offer would have valued the payment company at approximately £245 million. Helios’s earlier proposal instead valued CAB Payments’s entire issued capital at around $297 million, or £221 million, on a fully diluted basis.
CAB Payments said it has evaluated the possible offer and engaged with shareholders, but unanimously concluded it undervalues the company.
The company added that it took the improvement in its financial and operational performance in 2025 and its medium-term guidance into account before rejecting the proposal by the New York-based financial services firm.
CAB also noted that there can be no certainty over whether any formal offer will be made by StoneX.
CAB shares were up 1.8% to 91.60 pence each on Friday morning in London
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