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LONDON - Corpay, Inc. announced Wednesday it has agreed to acquire Alpha Group International PLC in a cash deal valuing the financial solutions provider at approximately £1.8 billion ($2.3 billion).
Under the terms of the acquisition, Alpha shareholders will receive 4,250 pence in cash for each share, representing a 55% premium to Alpha’s share price on May 1, 2025, the last business day before Corpay disclosed it was in discussions with Alpha.
The acquisition, which has been unanimously recommended by Alpha’s board of directors, is expected to close during the fourth quarter of 2025, subject to shareholder and regulatory approvals.
Alpha Group, a provider of cross-border payment solutions and alternative banking services, operates across Europe, Canada and Australia with over 500 employees in 11 international offices. The company has built a significant presence in corporate foreign exchange and private markets segments.
Corpay stated the acquisition will accelerate its cross-border business growth and enhance its product capabilities. The company expects the deal to be accretive to its cash earnings per share by at least $0.50 in the 2026 financial year.
"We couldn’t be happier to acquire Alpha," said Ronald Clarke, CEO of Corpay. "This transaction meaningfully expands our relationships with investment managers and results in four Cross Border customer segments: corporates, financial institutions, investment funds and digital currency providers."
Alpha Chair Dame Jayne-Anne Gadhia said the board considers the offer to be "in the best interests of shareholders, clients and staff."
The acquisition will be implemented through a court-sanctioned scheme of arrangement. Alpha shareholders are expected to vote on the proposal at meetings scheduled for September 2, 2025.
According to the press release statement, Corpay has received irrevocable undertakings to vote in favor of the scheme from shareholders controlling approximately 13.83% of Alpha’s issued share capital.
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