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Thomson Reuters said it increased its offer to 50 crowns per Pagero share, valuing the company at 8.1 billion crowns and topping an offer of 45 crowns per share from U.S.-based sales and tax management services company Avalara Inc. Thomson Reuters said it has bought about 53.81% of Pagero's shares and votes from key shareholders, including Summa Equity as well as Pagero CEO and other company executives and employees at the new offer price, which is for all Pagero shareholders. ....
Vertex, Inc. (VERX), a provider of indirect tax solutions, announced Monday that it has withdrawn its previously announced public tender offer to buy Pagero Group AB, a provider of e-invoicing and indirect tax solutions. ....
Thomson Reuters offered to pay 40 crowns in cash for each Pagero share, which is a premium of 11% to the stock's close on Wednesday and higher than Vertex's offer of 36 crowns per share. Pagero, whose services involve digitizing and automating accounts processes, said an independent bid committee of its board switched its recommendation from Vertex's offer to the Thomson Reuters offer. Thomson Reuters, which owns the Checkpoint tax and accounting service, said Pagero's e-invoicing compliance capabilities would expand its indirect tax offerings. ....
Thomson Reuters has officially put forward a proposition to acquire Pagero, a Swedish company specializing in e-invoicing and tax solutions. The offered amount stands at a noteworthy 6.4 billion crown ....