May 7, 12:12 PM

TPG and Corpay to Acquire Charlotte-Based AvidXchange for $2.2 Billion with $10 Per Share Cash Offer and 45.1% Premium

AvidXchange, a Charlotte, North Carolina-based provider of accounts payable and payment automation solutions, has agreed to be acquired by investment firm TPG in partnership with Corpay for $2.2 billion. The deal offers AvidXchange stockholders $10.00 per share in cash, representing a 45.1% premium. Corpay will invest approximately $500 million to acquire a 33% stake in the company. The acquisition was announced as a definitive agreement, with AvidXchange's shares rising 18.3% in pre-market trading following the announcement. Separately, TPG is also acquiring Peppertree Capital Management. Meanwhile, The Ademi Firm has initiated a shareholder alert to investigate whether AvidXchange Holdings is securing a fair price for its public shareholders.

#AvidXchange #Charlotte #North Carolina #TPG #Corpay #Peppertree Capital Management #The Ademi Firm #AvidXchange Holdings

Written with ChatGPT (GPT-4).

TPG and Corpay to Acquire Charlotte-Based AvidXchange for $2.2 Billion with $10 Per Share Cash Offer and 45.1% Premium

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