WEX Settles UK Merger Suit With Slashed $577M Fintech Deal

Law360, London (December 18, 2020, 11:58 AM GMT) -- Financial technology company WEX Inc. has agreed to go through with its acquisition of two payment companies for $577.5 million, securing a massive reduction in the original $1.7 billion purchase price after winning at a preliminary trial in London.

The U.S. financial technology company has settled a dispute and agreed to buy two payments businesses for less than half the original purchase price. (iStock) Maine-based WEX has settled the dispute and agreed to buy Optal Ltd. and eNett International (Jersey) Ltd. for less than half the original purchase price, WEX's attorneys at Freshfields Bruckhaus Deringer LLP said on Friday.

The deal comes after...

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