Temenos surges as EQT said to consider bid
Temenos Group AG
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17:19 26/03/24
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Temenos shares surged on Wednesday following a report that Swedish buyout firm EQT is considering a potential acquisition of the Swiss banking software specialist.
Bloomberg cited sources as saying that EQT is in the early stages of considering a bid for Temenos, which has a market value of CHF9.1bn.
According to data compiled by Bloomberg, if EQT does take Temenos private, it would be one of the biggest buyouts involving a listed European company this year.
Sources told Bloomberg there’s no certainty EQT will decide to proceed with a move for Temenos.
At 0930 BST, Temenos shares were up 7.3% at CHF131.80.