CAB Payments Board Signals Support for StoneX’s Improved Offer

CAB Payments Holdings Plc’s independent board is leaning toward recommending an increased offer from StoneX Group Inc., potentially trumping another takeover proposal backed by the London-listed firm’s largest shareholder.

StoneX raised its “final possible offer” to 110 pence a share in cash from 95 pence, valuing the firm at about £287 million ($389 million), the CAB Payments’ independent board said in a statement on Thursday. The new offer represents a 52% premium to the undisturbed share price on Jan. 30. It is also 29% higher than the offer put forward by a consortium backed by Helios Investment Partners ...