Financial services company StoneX has put forward a £241.4m ($320.6m) cash proposal to acquire CAB Payments, intensifying pressure in the pursuit for the UK-based cross-border payments business.
The StoneX offer is set at 95 pence per share.
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This price marks a 32% increase over CAB Payments’ closing share price of 72 pence before the Helios Consortium announced its own interest in pursuing an acquisition at the end of January 2026.
It is also 11% higher than the Helios Consortium’s confirmed bid of 85 pence ($1.15) per share, which was revealed on 2 March 2026.
StoneX indicated that it views its proposal as an opportunity for CAB Payments shareholders to realise value in cash at a level above both recent trading prices and the standing Helios offer.
The company has stated its willingness to engage with the CAB Payments board and Helios Consortium to move towards an agreed transaction that could be presented to shareholders.
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By GlobalDataCAB Payments previously turned down several approaches from Helios, which holds the largest stake in the company. Neither CAB Payments nor Helios has issued a response to the latest proposal from StoneX.
The statement said: “StoneX sees a high degree of complementarity between CAB Payments and StoneX’s Payments business, with the potential combination of both creating a leading, global specialist in Emerging Markets payments. StoneX is therefore confident that it is the best long-term owner and custodian of CAB Payments, with the potential combination unlocking incremental opportunities for key stakeholders.”
