William Blair Downgrades Nuvei Corp. (NVEI) to Market Perform, 'Consolidation Continues'

William Blair analyst Cristopher Kennedy downgraded Nuvei Corp. (NASDAQ: NVEI) from Outperform to Market Perform.

The analyst comments "On the heels of forming a special committee to evaluate proposals (announced March 17), Nuvei’s board recommended a sale of the business to Advent International for $34.00 per share in an all-cash deal. The deal has support from founder, Chair, and CEO Philip Fayer, Novacap Management, and CDPQ, which are expected to receive about $560 million collectively, most of which will be rolled into the company. Post-deal, Fayer will control 24% of the equity, while Novacap Management will have 18% and CDPQ will have 12%. The deal is expected to close in late 2024 or in the March 2025 quarter."

For an analyst ratings summary and ratings history on Nuvei Corp. click here. For more ratings news on Nuvei Corp. click here.

Shares of Nuvei Corp. closed at $31.62 yesterday.

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