“Our successful commercial partnership with Pagero provides confidence in the strategic and cultural fit,” remarked Steve Hasker, the Chief Executive of Thomson Reuters.
Financial Dynamics and Board’s Recommendations
Morgan Stanley & Co. LLC is serving as the financial adviser to Thomson Reuters, while Lazard is guiding Pagero through the financial intricacies of the deal. The acquisition, to be funded through existing funds, is contingent on receiving the backing of 90% of Pagero’s shareholders by February 9.
Unanimous Board Recommendation and Due Diligence
In an unexpected twist, Pagero’s board of directors, unanimously endorsing Thomson Reuters’ offer, has withdrawn its previous recommendation for the Vertex bid. This shift follows Pagero’s allowance for Thomson Reuters to conduct limited due diligence, signaling a renewed confidence in the strategic alignment between the two entities.
Reuters will buy a Sweden’s pagero for $627M : Conclusion
As the battle for Pagero unfolds, the acquisition by Thomson Reuters is poised to reshape the landscape of electronic invoicing and tax services. The thrilling dynamics of competing bids, premium surges, and strategic partnerships underscore the intensity of the financial battleground. Stay tuned for further developments as this gripping corporate saga continues.
