Ingenico Makes Offer to Acquire Hypercom
Early Saturday morning Ingenico announced that it had sent a letter to the Board of Directors of Hypercom Corporation "offering to acquire all of the outstanding shares of Hypercom for $6.25 per share in cash."
Philippe Lazare, Chief Executive Officer of Ingenico, said, "We believe our offer provides a compelling value proposition for the Hypercom shareholders. Unfortunately, even though we have provided the company with evidence of our ability to finance the transaction and requested customary due diligence, Hypercom has been uncooperative with regards to a reasonable path forward. We are prepared to move quickly to execute on a transaction, but are not interested in proceeding if Hypercom consummates its proposed acquisition of Thales. We believe that a transaction between Ingenico and Hypercom would create significant value for the shareholders of both companies and urge the Hypercom board of directors to consider it carefully."
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