Nuvei (NASDAQ:NVEI) stock is heading higher on Monday as investors react to reports of a deal to take the payment processing company private.
According to recent reports, private equity firm Advent International is in advanced talks to take Nuvei private. Following this report, the company confirmed that it’s currently weighing proposals to take it private.
According to the company, its current talks include retaining ownership for holders of significant shares. That includes current CEO Phil Fayer. It’s also worth mentioning that the payment processor has the financial backing of actor Ryan Reynolds.
Here’s what Nuvei had to say about the take-private offers when asked by Bloomberg:
“No decision has been made at this time whether to pursue a transaction or maintain the status quo.”
In response to these offers, Nuvei has created a special committee to evaluate them. It’s also considering other options and strategic alternatives.
What This Means for NVEI Stock
If Nuvei does move forward with a take-private deal, it would result in the company’s stock no longer being listed on a public exchange. That’s worth noting, as shares are available on both the Nasdaq and the Toronto Stock Exchange.
NVEI stock is up 25.4% as of Monday morning with more than 367,000 shares traded. That’s closing in on its daily average trading volume of about 448,000 shares.
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
