Reuters will buy a Sweden’s pagero for $627M

Reuters will buy a Swedens pagero for $627M

In a groundbreaking move, Thomson Reuters Corp., the information giant based in Canada, has announced its plans to acquire Sweden’s Pagero Group AB for a staggering $627 million. The acquisition is set to propel Thomson Reuters into the forefront of electronic invoicing and tax services, catering to a global clientele.

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Thomson Reuters’ Strategic Tender Offer

Thomson Reuters unveiled its intention to purchase the Swedish payment instructions business through a recommended public tender offer. The offer stands at 40 Swedish kronor per share, representing an enticing 11.1% premium over Pagero’s closing price of 36 Swedish kronor on the Nasdaq Nordic exchange just a day earlier.

Reuters will buy a Sweden’s pagero for $627M : Legal Dynamics and Advisers

Linklaters LLP is orchestrating the legal facets of the acquisition for Thomson Reuters, while Pagero is receiving legal counsel from the esteemed Swedish law firm, Advokatfirman Cederquist KB.

Market Response and Premium Surge

Pagero’s shares experienced a surge of 15.8% on Thursday morning, reaching 41.7 Swedish kronor, validating the market’s optimism regarding the acquisition.

Pagero’s Niche in E-Invoicing and Tax Services

Pagero Group AB specializes in providing essential tools for businesses engaged in e-invoicing and tax reporting. The company facilitates seamless automation of orders and invoices, connecting clients and suppliers in an efficient digital ecosystem.

Reuters will buy a Sweden’s pagero for $627M : Thomson Reuters’ Vision for Expansion

The strategic alliance with Pagero aligns with Thomson Reuters’ vision to enhance its indirect tax products for customers, especially in light of the global shift towards “real-time” digital tax regimes. The media conglomerate has nurtured a successful commercial partnership with Pagero since February 2023.