Vertex Inc. Drops After Thomson Reuters Outbids Offer for Pagero

(Updates Pagero stock move; adds details on Vertex and analyst commentary.)

Vertex Inc. drops as much as 8.8%, the most intraday in nearly seven months, after competitor Thomson Reuters offered to buy Pagero Group for SEK 40 per share in cash, which tops Vertex’s offer announced in December.

• Read more: Pagero Shares Jump After Vertex Cash Offer at SEK36 Apiece
• BMO Capital Markets analyst Dan Jester views this as a negative development for Vertex, and his initial sense is that Vertex may continue to pursue this deal
  • “While Vertex’s partnership with Silver Lake on the transaction potentially gives it more ...