Lombard Risk share prices soars after Vermeg takeover offer
Latest news
Lombard Risk share prices soars after Vermeg takeover offer 12 January 2018London Reporter: Zsuzsa Szabo
Image: Shutterstock
Dutch financial software provider Vermeg has set its sights on acquiring Lombard Risk with a £52.08 million cash for shares offer.
Under the offer of Vermeg, Lombard Risk shareholders will receive 13 pence for each ordinary share.
Lombard Risk board stated that it considered the terms of the acquisition to be “fair and reasonable”.
The takeover news has driven up the compliance software company’s stock price to 12.5 pence from 6.55 pence as of 10 January.
Badreddine Ouali, founder and chair of Vermeg, said: “Vermeg's acquisition of Lombard Risk will create a leading global financial software provider, with the scale and network to service an increasingly global and consolidating customer base.”
“With highly complementary offerings and minimal overlap regarding geographies and product portfolio, the combination provides a strong platform for future growth and value creation.”
Philip Crawford, chair of Lombard Risk, said: “The combination of Vermeg and Lombard Risk has very strong commercial logic.”
“The combined group will benefit from a range of complementary products and solutions, increased scale, a broader international presence and have the ability to accelerate growth through investment and wider routes to market.”
NO FEE, NO RISK 100% ON RETURNSIf you invest in only one asset servicing news source this
year, make sure it is your free subscription to Asset Servicing Times
Image: Shutterstock 