Mastercard dropped their Earthport bid last week and plans to purchase Transfast instead. This instantly reduced the value of Earthport shares. Visa will now close the deal at 37p/share, 26% below the peak price in their recent bidding war but 30% higher than Visa's initial bid.
So who wins from all this?
- Definitely Transfast (who we spoke to this week).
- Earthport shareholders - but not as much as they'd hoped.
- Visa, who ultimately got its mark (and really, what's $100m more to a $330bn company?)