EML Payments (ASX:EML) addresses report of Bain Capital takeover

• Payment solutions company EML Payments (EML) addresses media reports this morning of a potential takeover by Bain Capital
• EML said while there was a potential change of control proposal, discussions have now ceased
• The AFR this morning reported EML had a series of discussions with Bain regarding a potential takeover, however, neither could reach an agreed upon deal
• Shares in EML are up 9.77 per cent today, trading at $2.92

Payment solutions company EML payments has addressed speculation of a takeover by Bain Capital, saying while there were discussions earlier this year, they have now ceased. The potential of a takeover was reported this morning by the Australian Financial Review, who revealed there had been a series of takeover discussions between the two, including an “exclusivity agreement” which ceased in March because the two couldn’t reach an agreed upon deal. “The Board of EML will always consider proposals presented to the company and is fully committed to acting in the best interests of, and maximising value for, EML shareholders,” EML said. “EML appointed Goldman Sachs as its financial adviser and Herbert Smith Freehills as its legal adviser.” Shares in EML were up 9.77 per cent today, trading at $2.92 at 2:58pm AEST.