Skip to content

Thomson Reuters makes bid for e-invoicing firm Pagero, tops offer by Vertex

20240111070156-659fe62fce36b3ff02ee6ba1jpeg
A Thomson Reuters office is shown in Boston, Thursday Aug. 6, 2009. Thomson Reuters Corp. is offering to buy Swedish company Pagero Group in a deal worth about $838 million, topping for a bid for the e-invoicing firm by Vertex Inc. THE CANADIAN PRESS/AP-Eric J. Shelton

TORONTO — Thomson Reuters Corp. is offering to buy Swedish company Pagero Group in a deal worth about $838 million, topping a bid for the e-invoicing firm by Vertex Inc.

The company says it's offering 40 Swedish kronor in cash per Pagero share or a total of about 6.4 billion kronor.

Thomson Reuters says the proposal beats the offer announced by Vertex on Dec. 13 by four kronor per share.

The independent bid committee of the Pagero board unanimously recommended shareholders accept the Thomson Reuters offer and withdrew its recommendation for the Vertex bid.

Thomson Reuters says the acquisition will build on a strategic partnership announced last year.

Its offer requires acceptance by over 90 per cent of the Pagero shareholders as well as regulatory and other government approvals.

This report by The Canadian Press was first published Jan. 11, 2024.

Companies in this story: (TSX:TRI)

The Canadian Press


Looking for National Business News?

VillageReport.ca viewed on a mobile phone

Check out Village Report - the news that matters most to Canada, updated throughout the day.  Or, subscribe to Village Report's free daily newsletter: a compilation of the news you need to know, sent to your inbox at 6AM.

Subscribe