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CAB Payments Holdings PLC - London-based payment processing and foreign exchange provider - StoneX Group Inc, a New York-based provider of clearing and execution services, says it will not make a takeover offer for CAB Payments. StoneX provides no reason in a stock market statement on Thursday. CAB notes the announcement and says it is ‘highly confident’ in its strategy as a stand-alone company, adding it will provide a 2024 trading update in January. Early last month, CAB said StoneX was considering making an offer at 145 pence per share, which would have valued CAB at just under £370 million. CAB had listed in London in 2023 at 335p per share.
Current stock price: 79.45p, down 26% in London on Thursday afternoon
12-month change: up 28%
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