The stock market never ceases to amaze me.
Twelve months ago when news first broke that potential bidders were circling fintech and B2B international payments platform Equals (EQLS) , I was pretty convinced that a takeover would be concluded in fairly swift order.
How further from the truth.
Today, it was announced that the PUSU deadline would be extended again by another 3 weeks to 5pm 11th Dec'24 in order to allow the Consortium partners (JC Flowers and Towerbrook) to conclude their own internal negotiations with regards to the valuation of Towerbrook's Railsr business, which is set to be combined with Equals.
I appreciate the best things in life are worth waiting for. But as we approach our second Xmas, this is getting a little ridiculous, even by my standards.
That said, my greatest sympathies go the management team who have shown incredible patience and fortitude during this entire Strategic Review process - alongside delivering strong results amid challenging macro conditions.
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