Lombard Risk share prices soars after Vermeg takeover offer
12 January 2018 London
Image: Shutterstock
Dutch financial software provider Vermeg has set its sights on acquiring Lombard Risk with a 拢52.08 million cash for shares offer.
Under the offer of Vermeg, Lombard Risk shareholders will receive 13 pence for each ordinary share.
Lombard Risk board stated that it considered the terms of the acquisition to be 鈥渇air and reasonable鈥�.
The takeover news has driven up the compliance software company鈥檚 stock price to 12.5 pence from 6.55 pence as of 10 January.
Badreddine Ouali, founder and chair of Vermeg, said: 鈥淰ermeg's acquisition of Lombard Risk will create a leading global financial software provider, with the scale and network to service an increasingly global and consolidating customer base.鈥�
鈥淲ith highly complementary offerings and minimal overlap regarding geographies and product portfolio, the combination provides a strong platform for future growth and value creation.鈥�
Philip Crawford, chair of Lombard Risk, said: 鈥淭he combination of Vermeg and Lombard Risk has very strong commercial logic.鈥�
鈥淭he combined group will benefit from a range of complementary products and solutions, increased scale, a broader international presence and have the ability to accelerate growth through investment and wider routes to market.鈥�
Under the offer of Vermeg, Lombard Risk shareholders will receive 13 pence for each ordinary share.
Lombard Risk board stated that it considered the terms of the acquisition to be 鈥渇air and reasonable鈥�.
The takeover news has driven up the compliance software company鈥檚 stock price to 12.5 pence from 6.55 pence as of 10 January.
Badreddine Ouali, founder and chair of Vermeg, said: 鈥淰ermeg's acquisition of Lombard Risk will create a leading global financial software provider, with the scale and network to service an increasingly global and consolidating customer base.鈥�
鈥淲ith highly complementary offerings and minimal overlap regarding geographies and product portfolio, the combination provides a strong platform for future growth and value creation.鈥�
Philip Crawford, chair of Lombard Risk, said: 鈥淭he combination of Vermeg and Lombard Risk has very strong commercial logic.鈥�
鈥淭he combined group will benefit from a range of complementary products and solutions, increased scale, a broader international presence and have the ability to accelerate growth through investment and wider routes to market.鈥�
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