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)
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)