Smartpay Auction Looks to Be Done and Dusted -- Market Talk

Dow Jones06-24

0109 GMT - The auction for payments-terminal provider Smartpay is over, Bell Potter analyst Hayden Nicholson reckons. He doesn't see any chance of a rival bid now that the dual-listed company has entered a scheme for takeover by Shift4 Payments. Nicholson points out that Smartpay had plenty of opportunity to engage with potentially superior proposals following expiry of its exclusivity period, but no relevant news emerged. He tells clients in a note that the acquisition looks opportunistic on Shift4's part and undervalues Smartpay's quality. Bell Potter cuts its target price on Smartpay's Australia-listed shares by 13% to A$1.13, and lowers its recommendation to hold from buy. Shares are flat at A$1.03. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

June 23, 2025 21:09 ET (01:09 GMT)

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He tells clients in a note that the acquisition looks opportunistic on Shift4's part and undervalues Smartpay's quality. Bell Potter cuts its target price on Smartpay's Australia-listed shares by 13% to A$1.13, and lowers its recommendation to hold from buy. Shares are flat at A$1.03. 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