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M&A / Property

Increased possible offer for CAB Payments Holdings plc by the Helios Consortium

By The Northwire Desk — AI Analysis Feb 02, 2026 · 02:00 HFPC · 1.95 None
HFPC · Price

Executive Summary

  • The Helios Consortium seeks board recommendation for an increased possible offer to acquire all outstanding CAB Payments shares (excluding those already held by Helios Fund III) at US$1.15 cash per share.
  • The proposal represents a 21% premium to the 30‑day VWAP and a 37% premium to the 90‑day VWAP, valuing CAB Payments at approximately US$292 million (£213 million).
  • Helios Consortium holds or has support for 127,905,170 shares (≈50.33% of CAB Payments’ issued share capital), including a non‑binding letter of intent from Eurocomm supporting the offer.

Key Details

  • Offer Price: US$1.15 in cash per existing CAB Payments share.
  • Premiums:
  • 21% over the 30‑day VWAP (ended 30 Jan 2026).
  • 37% over the 90‑day VWAP (ended 30 Jan 2026).
  • Valuation: Approximately US$292 million (£213 million) for the entire issued share capital.
  • Shareholder Support / Holdings:
  • Helios Fund III holds 114,640,189 shares (≈45.11%).
  • Eurocomm holds an indirect interest in 13,264,981 shares (≈5.22%) and has provided a non‑binding letter of intent supporting the offer.
  • Total support/holdings = 127,905,170 shares (≈50.33% of CAB Payments).
  • Previous Offer: A prior possible offer of US$1.05 per share was rejected on 24 Jan 2026 by an independent board committee.
  • Unlisted Share Alternative: If a firm offer is made, shareholders may elect to remain invested via a partial unlisted‑share alternative.
  • Financial Adviser: Rothschild & Co (N.M. Rothschild & Sons Limited) acting exclusively for the Helios Consortium.
  • Regulatory Timeline:
  • By 2 Mar 2026 (5:00 pm London time), Helios must announce either a firm intention to make an offer or that it will not proceed, subject to possible extension by the Takeover Panel.
  • Conditions & Rights Reserved: Helios reserves the right to waive pre‑conditions, adjust consideration, introduce alternative forms of payment, and vary terms in response to dividends or other distributions announced after this release.

Notable Quotes

(No direct quotes were provided in the announcement.)

Read the original news release →

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