Monday, May 23, 2011, 11:55 AM
VeriFone (PAY -4.7%) and Hypercom (HYC -4.7%) drop after abandoning plans to sell Hypercom's U.S. payment systems business to Ingenico (INGIY.PK), since the sale would not satisfy DOJ concerns over fair competition in the POS market amid VeriFone's bid for the rest of Hypercom.
Comment![On the Move, M&A]
Thursday, May 12, 2011, 3:12 PM
Shares of VeriFone (PAY -10.6%) and Hypercom (HYC -18.5%) sink on news that the Department of Justice filed an antitrust lawsuit to block the proposed merger of the two companies. The combined companies "would likely lead to retailers paying higher prices for POS terminals," DOJ says, controlling more than 60% of the U.S. market.
1 Comment[M&A, On the Move]
Wednesday, November 17, 2010, 9:26 AM
VeriFone (PAY) will pay $485M to buy Hypercom (HYC) in an all-stock deal. Premarket: PAY +2.9%, HYC +15.5% to $7.10. (PR)
Comment![Tech]
Thursday, September 30, 2010, 8:25 AM
Hypercom (HYC) rejects VeriFone's (PAY) unsolicited buyout offer, saying it undervalues the electronic payments firm. In a Monday letter to Hypercom's board, VeriFone offered to purchase all outstanding common shares for $5.25 each, a 33% premium to the stock's six-month average. HYC +45.1%, PAY -0.3% premarket. (PR)
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Asif Suria VeriFone to buy Hypercom in all-stock deal valued at $485 million including debt $HYC $PAY
11/17/10
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Andrew Shapiro $PAY VeriFone Systems has agreed to buy $HYC Hypercom Corp. in an all-stock deal valued at about $485 million
11/17/10
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Alex B. Gray Hypercom Corp. $HYC voluntarily withdrew its lawsuit concerning nondisclosure issues against VeriFone $PAY.
10/9/10
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Asif Suria Hypercom, a payment technology company, rejected an unsolicited offer from VeriFone Systems, to buy it for $290 million in cash $HYC $PAY
9/30/10
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Jim Van Meerten HYC -Hypercom- 13 new highs in 20 trading session - Wall Street buy reports based on increased earnings and sales - 100% Barchart buy signal
6/3/10
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