Shares in Customers Limited (ASX:CUS) closed almost 35 per cent higher yesterday after the ATM business said it will support a takeover bid from Canada’s DirectCash Payments Inc (TSE:DCI).
DirectCash is offering Customers $1.27 cash per share, valuing the company at about $173 million.
The offer represents a 44 per cent premium to the stock’s three month volume weighted average price.
The board of Customers has unanimously backed the bid that will be put to a shareholder vote in June.
Shares in Customers surged 34.78 per cent yesterday, closing at $1.24.
Customers reported a net profit of $2 million in the first half of its 2012 financial year.
