Fahour’s latitude expands buy now, pay later grow with deal Hmmm

As part of the Latitude offer, Humm will maintain its commercial activity which provides asset finance to businesses. Humm Managing Director Rebecca James, who helped expand Humm’s business into new lines of business, will join Latitude as part of the transaction.

The Latitude deal will see Humm receive 150 million Latitude shares and $ 35 million in cash. Humm said in a statement to ASX that the deal was equivalent to 68 cents per Humm share. Humm shares rebounded on Thursday, initially climbing 8% before slashing those gains to trade 0.5% at 90 cents as investors digest what the deal meant for the value of the activity Humm’s remaining business once the deal is done.

Humm has granted Latitude exclusive due diligence until Jan. 31 as part of a non-binding agreement between the two companies. Since the offering is in both stock and cash, Humm will also be performing due diligence on Latitude’s business. The transaction, if it goes through, will be subject to reviews by the tax office and approvals from regulators and Humm shareholders.

Humm President Christine Christian said the company is committed to maximizing shareholder value. “In this context, we believe that Latitude’s proposal is potentially attractive to HUM shareholders and warrants due diligence and detailed negotiation. “

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