Finance
UK's Alpha Group rejects all-cash proposal from Corpay
Published by Global Banking & Finance Review®
Posted on May 6, 2025
1 min readLast updated: January 24, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on May 6, 2025
1 min readLast updated: January 24, 2026
Alpha Group rejected Corpay's all-cash takeover proposal. Corpay must decide by May 30 whether to make a firm offer or withdraw.
(Reuters) -British financial services provider Alpha Group International on Tuesday said it had rejected an all-cash proposal from U.S.-based business payments firm Corpay.
Corpay, which offers tools that allow businesses to make payments to vendors, had expressed its interest in the British company about a possible takeover last week.
Alpha confirmed on Tuesday that it had received a preliminary and conditional all-cash proposal from Corpay, but did not disclose a reason for rejecting it.
The U.S. firm is required by law to announce a firm offer for Alpha or walk away by May 30. The deadline can also be extended with the consent of the UK Takeover Panel.
(Reporting by Yamini Kalia in Bengaluru; Editing by Nivedita Bhattacharjee)
The main topic is Alpha Group's rejection of Corpay's all-cash takeover proposal and the subsequent steps required by the UK Takeover Panel.
Alpha Group did not disclose specific reasons for rejecting Corpay's proposal.
Corpay must announce a firm offer or withdraw by May 30, with possible extensions allowed by the UK Takeover Panel.
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