Lumon doubles down on intent to bid for currency firm Argentex

ReutersApr 23, 2025 9:53 AM

April 23 (Reuters) - Payments services provider Lumon Acquisitions said on Wednesday it is prepared to make a firm offer for British currency risk management company Argentex AGFX.L after its earlier non-binding proposal was rejected.

Earlier on Wednesday, Argentex said it was in advanced talks with forex and payments solutions provider IFX Payments about a possible offer and emergency funding, as it battles to defend its business from volatile currency markets.

Lumon said Argentex asked the company for urgent support as its liquidity position has rapidly deteriorated. Lumon urged Argentex to resume working with it about the offer.

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.

Recommended Articles

Intel Stock Has Surged 74% in 2026 and Earnings Land April 23 — Is INTC Still a Buy at $68?

TradingKey - Intel surged 74% YTD and hit 26-year highs near $70. Q1 2026 earnings drop April 23. RSI overbought at 78. Key support $63, resistance $72.50. Buy or fade?

Asia-Pacific Stocks Rise Across the Board Monday as Easing Middle East Tensions Boost Market Sentiment

TradingKey - April 20: Major Asia-Pacific stock markets rose across the board on Monday, buoyed by widespread gains in global equity markets over the weekend and growing investor expectations for a de-escalation of tensions in the Middle East.

Stopping Short of $80,000. U.S.-Iran Tensions Rise, Is Bitcoin a "Halftime Break" or "Official End"?

The escalation of the US-Iran conflict triggered a surge and subsequent retreat in Bitcoin prices; whether the cryptocurrency can break through $80,000 depends on a new round of negotiations this Tuesday.

AST SpaceMobile Shares Plunge in Overnight Trading, What Happened? Will It Affect SpaceX?

TradingKey - In the early hours of April 19, AST SpaceMobile’s (ASTS.US) seventh broadband communication satellite, BlueBird 7, launched from Cape Canaveral aboard Blue Origin’s New Glenn rocket. While the rocket’s first stage was successfully recovered, the second stage deployed the satellite into

Allbirds Ditches Sneakers and Pivots to AI Computing - Is BIRD Stock Still Worth Buying After a 600% Surge?

TradingKey - Allbirds surged 600% after announcing a full pivot to GPU leasing as NewBird AI. Shares pulled back 30% the next day. Key support $10, targets $13.30 and $15.90.

Featured Tools