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Market Analysis Latest ASX News

EML Payments Shares Jump on Takeover Speculation (ASX:EML)

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By Kiryll Prakapenka, Wednesday, 13 April 2022

EML Payments [ASX:EML] clarified media speculation about a potential takeover by Bain Capital.

EML Payments [ASX:EML] clarified media speculation about a potential takeover by Bain Capital.

EML shares rose as much as 14% in morning trade, before retracing somewhat in the afternoon.

The payment solutions firm may be looking like a takeover target, having fallen 50% in the last 12 months following regulatory issues and a souring outlook for the fintech sector, which saw ASX BNPL stocks tank.

eml asx share prices

Source: Tradingview.com

EML addresses takeover speculation

Yesterday, the Australian Financial Review hinted at takeover talks between EML and Bain Capital. The talks included an exclusivity period where Bain had access to EML’s books.

But the talks fizzled out.

As the Australian Financial Review reported:

‘Sources involved said Bain’s exclusivity agreement ended late last month without an agreed deal.

‘Bain’s understood to have walked away for now, unable to stack up the hefty mooted takeover price after going through the diligence materials.

For reference, EML is currently trading at a market cap of around $1.05 billion.

Today, EML confirmed it held discussions with Bain, however ‘those discussions have now ceased’.

EML did not rule out hearing new proposals. The EML board said it will ‘always consider proposals presented to the company’.

Goldman Sachs and Herbert Smith Freehills have been appointed as financial and legal advisors.

EML Payments share price outlook

It hasn’t been an overly positive time for fintech stocks lately.

EML is down 50% over the past 12 months.

Zip Co [ASX:Z1P] is down 85% and hit a fresh 52-week low today.

And RAIZ Invest [ASX:RZI] is down 45% this year.

In depressed times, these sell-offs offer opportunistic companies buying opportunities.

Will other companies beside Bain Capital consider EML?

What price are they willing to pay for the fintech? And at what price is the EML board willing to sell?

Judging from today’s sharp share price jump, investors are likely thinking the pursuit of EML isn’t over.

Beyond the fintech industry, you may have heard, is the metaverse — an industry that encompasses more than just fintech but other technologies and beyond.

But with everyone coming up with their own predictions surrounding the metaverse, it may have become a bit of a buzzword.

How can you tell, while sifting through all the opinions out there, what is concrete and sound?

Our experts have compiled a report that explores the stakeholder possibilities that break down the mysteries of the metaverse: ‘The METAVERSE Explained for Aussie Investors:

Myths, Mania…and Five Hidden Ways to Stake Your Claim Now’.

Regards,

Kiryll Prakapenka,

For Money Morning

All advice is general advice and has not taken into account your personal circumstances.

Please seek independent financial advice regarding your own situation, or if in doubt about the suitability of an investment.

Kiryll Prakapenka

Kiryll’s Premium Subscriptions

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All advice is general in nature and has not taken into account your personal circumstances. Please seek independent financial advice regarding your own situation, or if in doubt about the suitability of an investment.

The value of any investment and the income derived from it can go down as well as up. Never invest more than you can afford to lose and keep in mind the ultimate risk is that you can lose whatever you’ve invested. While useful for detecting patterns, the past is not a guide to future performance. Some figures contained in our reports are forecasts and may not be a reliable indicator of future results. Any actual or potential gains in these reports may not include taxes, brokerage commissions, or associated fees.

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