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Corpay Invests Alongside TPG to Acquire AvidXchange

1. Corpay invests $500 million for a 33% stake in AvidXchange. 2. AvidXchange will be taken private at $10.00 per share.

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FAQ

Why Very Bullish?

The $10.00 per share valuation reflects a premium over AVDX's recent trading prices. Investors generally view firm acquisition offers as a bullish signal for share prices.

How important is it?

The direct implication of a significant investment and valuation provides substantial impact on AVDX's stock performance.

Why Short Term?

The announcement of the buyout will likely trigger immediate investor interest in AVDX. Given the nature of the acquisition, the prices could stabilize post-transaction.

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CPAYTPG
ATLANTA--(BUSINESS WIRE)--Corpay, Inc. (NYSE: CPAY), a leading corporate payments company, today announced that it has signed a definitive agreement to make a minority investment in AvidXchange Holdings, Inc (NASDAQ: AVDX) (“AvidXchange”) as part of a transaction to take AvidXchange private alongside TPG for $10.00 per share in a cash transaction that values AvidXchange at $2.2 billion. Under the agreement, Corpay will invest approximately $500 million for a 33% equity stake in the company. The.

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