Why Nuvei Shares Are Rocketing Today

Canadian payments processor Nuvei Corp NVEI shares are jumping today after a media report and the company’s confirmation that it is in buyout talks.

Nuvei, backed by celebrity entrepreneur Ryan Reynolds, is reportedly in advanced talks with Advent International for a transaction that could be announced soon, as per WSJ.

As per the report, given Nuvei’s current market capitalization of about C$4.1 billion ($3 billion), the transaction would qualify as one of the most significant recent private-equity deals.

In a press release yesterday, the company said it is aware of recent media reports speculating about a potential going-private transaction involving the company.

Nuvei said that its board formed a special committee to evaluate and consider “such expressions of interest.”

“The Company further confirms that it is engaged in discussions with certain third parties in connection with a potential transaction involving continued significant ownership by certain of the holders of multiple voting shares, including Phil Fayer, Nuvei’s founder, Chair and Chief Executive Officer.” 

Price Action: NVEI shares are up 27.4% at $27.60 on the last check Monday.

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