Published by Global Banking & Finance Review®
Posted on July 21, 2025
1 min readLast updated: January 22, 2026
Add as preferred source on GoogleIFX Payments may retract its offer for Argentex after the latter appointed administrators due to funding issues, impacting their market value.
(Reuters) -Cross-border payments provider IFX Payments said on Monday that it is considering withdrawing its takeover offer for Argentex, just days after the British currency risk management company appointed administrators due to a funding shortfall.
Argentex, one of the early casualties of market turbulence sparked by trade tensions, said on Friday that it had decided to appoint administrators after its main trading unit halted operations due to a failure to secure funding.
The company experienced a near-total collapse in market value after it suspended trading in April. It later agreed to a takeover deal with UK-based IFX, under which shareholders would receive 2.49 pence per share, valuing Argentex at about 3 million pounds ($4 million).
In May, Argentex said it had secured a 20-million-pound loan from IFX and revealed that its finance chief Guy Rudolph had resigned along with several board members.
IFX said on Monday that under the terms of the agreed deal, it reserved the right to withdraw its offer for Argentex if any insolvency process was initiated, pending consultation with relevant authorities.
($1 = 0.7445 pounds)
(Reporting by Pushkala Aripaka in Bengaluru; Editing by Sherry Jacob-Phillips)
IFX Payments is considering withdrawing its takeover offer for Argentex, just days after Argentex appointed administrators.
Argentex decided to appoint administrators after its main trading unit halted operations due to market turbulence.
In May, Argentex secured a 20-million-pound loan from IFX, which was part of the ongoing discussions regarding the takeover.
IFX reserves the right to withdraw its offer if any insolvency process is initiated, pending consultation with relevant authorities.
Argentex experienced a near-total collapse in market value after it suspended trading in April, which significantly impacted its operations.
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