These box office numbers do not include the cost of production or marketing costs. They also don't count the billions in merchandising that Disney has made over the last...Entertainmentread more
Instagram began tests that hide "like" counts on posts. That means influencers who market products on Instagram will have to rely on different metrics to show success.Technologyread more
Peter Neupert worked for Microsoft and Amazon-backed Drugstore.com, where he got to know Jeff Bezos. He now advises start-ups.Technologyread more
Last week shows that oil prices are not the indicator for Middle East tensions they once were, and worries about global demand and growing U.S. production has changed that...Market Insiderread more
Facebook Vice President David Marcus is the face of the company's Libra digital currency, but the original driving force was a 26-year-old female corporate-development...Technologyread more
The firing of the tear gas was the latest confrontation between police and protesters who have taken to the streets for over a month to fight a proposed extradition bill and...China Politicsread more
Amazon's new policy for account suspensions doesn't go far enough to protect sellers from potentially unfair and wrongful suspensions, merchants say.Technologyread more
There is no end in sight to the Boeing 737 Max grounding after two fatal crashes, prompting airlines to rethink their growth plans.Airlinesread more
After a year of flooding, Midwest farmers face a stifling heat wave that's spreading across the U.S.Weather & Natural Disastersread more
Gluskin Sheff's David Rosenberg is painting a painful picture for stocks as earnings season goes into full gear.Futures Nowread more
On Saturday, Disney's Marvel Studios announced its upcoming slate of superhero films during a panel at San Diego Comic-Con.Entertainmentread more
The 590 pence per share all-cash offer represents a premium of about 9 percent to Paysafe's closing price on Thursday.
In a separate statement, Paysafe said it had also agreed to buy U.S. peer Merchants Choice Payments Solutions for $470 million.
Payments companies have become targets for credit card companies and banks seeking to capitalise on a switch from cash transactions to paying by smartphone or other mobile device.
Paysafe said it had been approached by the consortium made up of funds managed by Blackstone and funds managed by CVC Capital Partners in early May and, after turning down a number of indicative proposals, had granted the bidders due diligence access on the basis of the 590 pence per share proposal.
Paysafe said the proposal represented an about 34 percent premium to its volume weighted average price for the six months to June 30, the day before broad sector consolidation speculation hit the market.
Representatives for Blackstone and CVC were not immediately available to comment.
Old Mutual Global Investors, Paysafe's largest shareholder with a stake of about 10.3 percent in the group, has signed a non-binding letter of support for the possible offer, the group said.
If the deal goes through, Paysafe's entire capital will be incorporated in a newly formed company, with the consortium taking full ownership.
While banks have been trying to develop and buy more sophisticated technology, companies like PayPal and Paysafe have gained a large market share as consumers have adopted online shopping and cashless transactions.