News Summary

Toronto-based Payfare is defending its acquisition deal with Fiserv against dissent from minority shareholder Kingsferry Capital Management. The $201.5-million CAD deal, announced in December, offers a 90-percent premium over Payfare’s pre-announcement closing price. Kingsferry, which holds a 10.6-percent stake, claims the deal undervalues Payfare and presents conflicts of interest. Payfare disputes these claims, emphasizing the deal’s premium and strategic benefits. A shareholder meeting to decide the deal’s fate is scheduled for February 21.