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Payfare ( (TSE:PAY) ) has issued an announcement.
Payfare Inc. announced that Institutional Shareholder Services Inc. (ISS) has reiterated its recommendation for Payfare shareholders to vote in favor of the company’s arrangement with Fiserv. The arrangement promises an attractive premium, offering superior value over the standalone plan. Payfare’s Board, after a comprehensive strategic review, supports Fiserv’s all-cash offer of CA$4.00 per share, marking a 90% premium on the share price prior to the announcement. The Board emphasizes that rejecting the arrangement might jeopardize the certainty of value for shareholders.
More about Payfare
Payfare Inc. operates in the financial technology industry, providing digital banking and payment solutions. The company focuses on offering financial services to gig economy workers and has a market presence on the Toronto Stock Exchange and OTCQX.
YTD Price Performance: -0.52%
Average Trading Volume: 459,198
Technical Sentiment Consensus Rating: Buy
Current Market Cap: C$185.6M
Learn more about PAY stock on TipRanks’ Stock Analysis page.
