RE: Ingenico and HypercomLooks like this hostile takeover(s) could drag on for a while.
"Last week, Ingenico made an unsolicited, $322 million, all-cash offer for Hypercom"
"Forbes (02/12/2008)...Thales (other-otc: THLEF.PK - news - people ) ended the session 1.64 or 4.40 pct higher at 38.89 ahead of the publication of full year sales figures once the market closed. US-based Hypercom (nyse: HYC - news - people ) said earlier today that Thales has given it an ultimatum of Wednesday to sign a definitive agreement for the purchase of the Paris-headquartered company's e-Transactions unit, if it wishes to avoid possible costs of 10 mln usd and legal action.
The move comes amid a row that Hypercom is having with its own suitor, Ingenico, which has offered 332 mln usd for Hypercom. Ingenico was one of the day's few fallers, ending the session 0.09 or 0.56 pct lower at 16.11."
"PARIS, Jan. 22, 2008 (Thomson Financial delivered by Newstex) -- French payment security group Ingenico said it is suing US private equity fund Francisco Partners LP, accusing it of breaking a non-disclosure agreement by funding US rival Hypercom Corp's (NYSE:HYC) purchase of Thales' E-Transactions Business.
Hypercom announced a draft deal to buy the E-Transactions business for 120 mln usd cash in December, saying it would create the third largest global provider of electronic payment services.
In a statement, Ingenico said the breaches of the agreement 'arise from the Francisco Parties' proposed provision of a 60 mln usd senior credit facility to Hypercom Corporation relating to its acquisition of Thales E-Transactions Business.'
'As a consequence, Ingenico insists that Francisco Partners must immediately withdraw from the proposed commitment,' it said."
market cap.
Ingenico $521 million
Hypercom $267 million