IFX Payments' Argentex takeover deal terminated
Aug 7 (Reuters) - The previously announced acquisition of Britain's Argentex AGFX.L by cross-border payments provider IFX Payments has been terminated after the currency risk management business entered administration last month, the companies said on Thursday.
The companies had agreed to an emergency 3 million pound ($4 million) takeover in April after Argentex was rocked by swings in the currency markets triggered by U.S. tariffs.
However, Argentex told the market on July 17 that its liquidity position had deteriorated further and it would pause any further commercial and trading activity. It appointed administrators the following week.
Shares in the company have been suspended on the London Stock Exchange's junior AIM market since July 17. They could be cancelled if Argentex does not appoint a nominated adviser, required for all AIM listed companies, by August 31, Argentex said in its statement on Thursday.
($1 = 0.7477 pounds)
Related Articles
All Eyes on August CPI: The Data That Could Trigger a Jumbo Fed Cut — Or Not
TradingKey - The key question now is whether the August CPI report, to be released on September 11, could push the Fed toward a more aggressive 50-basis-point cut — as it did in September 2024.
Oracle Q1 FY2026 Earnings: Cloud Surge and Record RPO Fuel AI Optimism
TradingKey - Oracle Corporation (NYSE: ORCL) posted mixed Q1 FY2026 results, with total revenue and adjusted EPS slightly below consensus amid a shift to cloud services, but cloud revenue beat expectations with robust 28% growth. A massive RPO backlog of $455 billion, up 359% YoY
U.S. August CPI Preview: Persistent Rise in Inflation, What Impact on Rate Cuts? And on US Stocks?
TradingKey - On 11 September 2025, the U.S. will publish August CPI data. Consensus forecasts indicate a 0.3% month-over-month increase for both headline CPI and core CPI. As a result, headline CPI year-over-year may climb to 2.9%, up from 2.7%
Unlocking Gold’s Next Leg: $4,000 in Reach by 2025？
TradingKey - Gold has kicked off a fresh uptrend in early September, breaking out of months of compression and reclaiming key territory. The decisive move above $3,500 establishes a new support base and puts higher objectives back on the table for the weeks ahead
2025 Hottest US IPO Week: Klarna, Gemini, Figure Set for “Triple Launch”
TradingKey - 5 companies are now pricing their U.S. initial public offerings (IPOs) for the week starting September 8, with a total expected fundraising exceeding $3 billion, making it the busiest IPO week of 2025. Investors are closely watching the debut performance of Klarna, Gemini, and Figure.
