On July 23, 2025, Corpay announced a firm intention to acquire the entire issued and to be issued ordinary share capital of Alpha Group International plc in cash pursuant to Rule 2.7. Alpha shareholders will receive £42.50 per share in cash, with an enterprise value of approximately £1.6 billion.

1. 01

   On July 23, 2025, Corpay announced a firm intention to acquire the entire issued and to be issued ordinary share capital of Alpha Group International plc in cash pursuant to Rule 2.7. Alpha shareholders will receive £42.50 per share in cash, with an enterprise value of approximately £1.6 billion.

2. 02

   The company said the acquisition will be implemented by means of a court-sanctioned scheme of arrangement, subject to approval by Alpha shareholders representing not less than 75% in value of the Alpha shares and sanction by the Court. The offer is subject to termination if not completed by 11:59 pm (London time) on May 23, 2026, and subject to satisfaction or waiver of the conditions, the company expects the acquisition to be completed during Q4 2025.

3. 03

   Corpay said each member of the board of directors of Alpha who hold shares and Morgan Tillbrook delivered irrevocable undertakings to vote their Alpha shares in favor of the scheme, representing an aggregate of 5,849,180 Alpha shares, or approximately 13.83% of Alpha's outstanding shares. The company also entered into a bridge term loan credit agreement with BOFA Securities, Inc., Barclays Bank PLC and JPMorgan Chase Bank, N.A., pursuant to which those lenders committed to provide a bridge facility of £1.875 billion, and the obligation of the lenders is subject to customary conditions.

4. 04

   The company said Alpha is a leading provider of B2B cross border FX solutions to corporations and investment funds in the UK and Europe, and holds approximately $3 billion of deposits in over 7,000 client accounts. Corpay added it expects the acquisition to be meaningfully accretive to 2026 EPS.

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Original filing

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