Canada's Brookfield Asset Management said on Friday it would buy payments provider Network International for 2.2 billion pounds ($2.76 billion) in cash, as it expands its payments business in the Middle East and Africa.
The 400 pence-per-share offer represents a premium of about 64% to United Arab Emirates-based Network International's closing price on April 12, the last business day prior to the start of the offer period.a 387-pence joint offer from private equity firms CVC Capital and Francisco Partners.
The Canadian firm said Network directors intended to unanimously recommend that shareholders vote in favour of the deal.
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