EVO Payments Shares Pop As It Opposes Takeover Bid From Shift4 Payments

EVO Payments Shares Pop As It Opposes Takeover Bid From Shift4 Payments
  • EVO Payments Inc EVOP has refused a takeover offer from Shift4 Payments Inc FOURBloomberg reports.
  • The financial terms of the offer remain undisclosed. The approach coincides with heavy consolidation in the payments sector, which increased before the pandemic accelerated the shift away from cash. 
  • Companies that have benefited from the trend have sought to take advantage of their surging stock prices to help fuel acquisitions. 
  • PayPal Holdings Inc's PYPL takeover approach to Pinterest Inc PINS was a recent example of that strategy.
  • Price Action: EVOP shares traded higher by 6.80% at $25.69 in the market session on the last check Wednesday.

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