Vertex Withdraws Offer to Acquire Pagero
2024年1月15日 - 10:00AM
Vertex Withdraws Offer to Acquire Pagero
Vertex, Inc. (NASDAQ: VERX), a global provider of indirect tax
solutions, today announced that after thorough review, it has
withdrawn its previously announced public tender offer for 100% of
the shares of Pagero Group AB (publ) (“Pagero”) following two
competing offers and the acquisition by a competing bidder of more
than 10 percent of the shares of Pagero.
“Vertex has been a leader in the indirect tax market for 45
years by taking an approach to growth that is both disciplined and
aligned with the best interests of our customers and shareholders.
Today’s decision reflects those principles,” said Vertex CEO David
DeStefano. “The fundamentals of our business remain strong and
position us well to capitalize on the significant market
opportunity in today’s increasingly complex tax landscape. We
appreciate Silver Lake’s market-validating support of our business
and strategic intentions. We look forward to building on our
momentum and driving value for our shareholders and customers.”
In connection with today’s announcement, Vertex confirmed that
its issuance of a new series of Convertible Preferred Stock in the
amount of $500 million will be cancelled.
Pagero shareholders who had undertaken to accept Vertex’s tender
offer have been released from those obligations.
About Vertex
Vertex, Inc. is a leading global provider of indirect tax
solutions. The Company’s mission is to deliver the most trusted tax
technology enabling global businesses to transact, comply and grow
with confidence. Vertex provides solutions that can be tailored to
specific industries for major lines of indirect tax, including
sales and consumer use, value added and payroll. Headquartered in
North America, and with offices in South America and Europe, Vertex
employs over 1,400 professionals and serves companies across the
globe.
For more information, visit www.Vertexinc.com or follow on
Twitter and LinkedIn.
Forward Looking Statements
Any statements made in this press release that are not
statements of historical fact, including statements about our
beliefs and expectations, are forward-looking statements and should
be evaluated as such. Forward-looking statements include, among
other things, statements about the anticipated benefits of the
Pagero acquisition, the timing of completion of the Pagero
acquisition and the issuance of the Convertible Preferred Stock and
warrants, as well as the information concerning possible or assumed
future results of operations, including descriptions of our
business plan and strategies. Forward-looking statements are based
on Vertex management’s beliefs, as well as assumptions made by, and
information currently available to, them. Because such statements
are based on expectations as to future financial and operating
results and are not statements of fact, actual results may differ
materially from those projected. Factors which may cause actual
results to differ materially from current expectations include, but
are not limited to: our ability to complete the Pagero on the
currently contemplated terms or at all; the outcome of any legal
proceedings, regulatory proceedings or enforcement matters that may
be instituted relating to the anticipated acquisition; the costs
incurred to consummate the Pagero acquisition; the possibility that
the expected benefits from the acquisition will not be realized, or
will not be realized within the expected time period; difficulties
related to the integration of the two companies; disruption from
the Pagero acquisition making it more difficult to maintain
relationships with customers, employees, regulators or suppliers;
the diversion of management time and attention on the anticipated
acquisition; adverse changes in the markets in which Vertex and
Pagero operate; our ability to complete the financing for the
acquisition on the contemplated terms, or at all; our ability to
sustain and expand revenues, maintain profitability, and to
effectively manage our anticipated growth; our ability to maintain
and expand our strategic relationships with third parties; and the
other factors described under the heading “Risk Factors” in the
Company’s Annual Report on Form 10-K for the year ended December
31, 2022 as filed with the Securities Exchange Commission (“SEC”),
as may be subsequently updated by our other SEC filings. Copies of
such filings may be obtained from the Company or the SEC.
All forward-looking statements reflect our beliefs and
assumptions only as of the date of this press release. We undertake
no obligation to update forward-looking statements to reflect
future events or circumstances.
Contacts:
VertexInvestor Relations contact:Joe
CrivelliVertex, Inc.ir@Vertexinc.com
Media contact:Rachel LitcofskyVertex,
Inc.mediainquiries@Vertexinc.com
Vertex (LSE:0A3L)
過去 株価チャート
から 3 2024 まで 4 2024
Vertex (LSE:0A3L)
過去 株価チャート
から 4 2023 まで 4 2024