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Visa boosts offer for Earthport in battle with Mastercard


(Reuters) - Visa Inc on Friday sweetened its offer for payment company Earthport Plc to about 247 million pounds ($319.84 million), pushing past rival Mastercard Inc's earlier bid and setting up a showdown for the assets.A unit of Visa offered 37 pence in cash for each Earthport share, a 23 percent premium to its initial bid and 12 percent higher than Mastercard's offer last month.Earthport shares have risen more than five-fold to 38.80 pence since Visa first offered to buy the company.Earthport, which had backed the Mastercard bid, said it was now recommending that shareholders accept the ...

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First Published: Fri, February 08 2019. 13:19 IST