Verifone Systems/Hypercom Corp.
VeriFone Systems, Inc. (NYSE: PAY) and Hypercom Corporation (NYSE: HYC) announced that they have entered into an agreement whereby VeriFone will pay a per share amount of 0.23 VeriFone common, valued at $7.32, or a total consideration of $485 million, including net debt.
VeriFone will also assume Hypercom’s outstanding warrants and stock options in the transaction.
The transaction, expected to close in H211, is subject to approval by Hypercom shareholders and customary regulatory approvals.
J.P. Morgan Securities LLC acted as VeriFone’s exclusive financial advisor and Sullivan & Cromwell LLP acted as VeriFone’s legal counsel. Hypercom’s exclusive financial advisor was UBS Securities and its legal advisor was DLA Piper US LLP.
VeriFone will also assume Hypercom’s outstanding warrants and stock options in the transaction.
The transaction, expected to close in H211, is subject to approval by Hypercom shareholders and customary regulatory approvals.
J.P. Morgan Securities LLC acted as VeriFone’s exclusive financial advisor and Sullivan & Cromwell LLP acted as VeriFone’s legal counsel. Hypercom’s exclusive financial advisor was UBS Securities and its legal advisor was DLA Piper US LLP.
