Tradeshift ceases M&A talks with Basware

Friday 1 March 2019 00:18 CET | News

Finland-based e-invoicing provider Basware has announced that it has terminated talks with Tradeshift over its possible takeover offer.

Basware announced during the last couple of months of 2018 that it was in discussions with US-based supply chain payments company Tradeshift about a possible cash tender offer by Tradeshift for all shares in Basware.

According to a recent press release, Tradeshift has recently informed Basware that it will be unable to proceed given conditions in the capital markets.

Arrowgrass Capital Partners then released a note saying Arrowgrass also notes that the irrevocable undertaking that it signed with Tradeshift to accept an offer for the approximately 25% of Basware shares that it owns, were the offer to be made by 28th February 2019 at a price of at least EUR 46.5 per Basware share, terminates today. Basware has now entered into a ‘standstill agreement’ with Tradeshift until November 12, 2019.

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Keywords: Tradeshift, Basware, mergers and acquisitions, e-invoicing, source-to-pay, financial services, e-procurement, US, North America, Finland, Europe, supply chain finance
Countries: World