June 13, 2017 / 6:25 AM / 3 months ago

BRIEF-Fiserv Inc makes cash offer for Monitise Plc

June 13 (Reuters) - Monitise Plc:

* Fiserv inc - offer for monitise plc

* Fiserv- ‍have reached agreement on terms of a recommended cash offer to be made by Fiserv for entire issued and to be issued ordinary share capital of Monitise​

* Fiserv- ‍intended that acquisition will be implemented by way of a court-sanctioned scheme of arrangement under part 26 of companies act​

* Fiserv Inc - ‍under terms of acquisition, each Monitise shareholder will be entitled to receive: 2.9 pence in cash per monitise share​‍​

* Fiserv- ‍offer price values entire issued and to be issued ordinary share capital of monitise at approximately £70 million​

* Fiserv- ‍Monitise directors, who have been so advised by Canaccord Genuity as to financial terms of acquisition, consider terms of acquisition to be fair and reasonable​

* Fiserv Inc - ‍acquisition is expected to complete in Q3 of calendar year 2017​ Source text for Eikon: Further company coverage:

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