Alpha Group Shareholders Approve Corpay Takeover

Alpha Group International announced that its shareholders have formally approved the company's planned acquisition by Corpay Inc. The decision followed two meetings held earlier today: a Court Meeting where Scheme Shareholders voted in favor, and a General Meeting where the required majority approved the related Special Resolution.

The takeover was first unveiled on 23 July 2025, when the boards of both companies confirmed an agreement on terms. Corpay is set to acquire Alpha's entire issued and to-be-issued ordinary share capital through a scheme of arrangement sanctioned under Part 26 of the Companies Act 2006.

Under the terms, Alpha shareholders will receive 4,250 pence in cash per share. The offer values Alpha's equity at approximately £1.805 billion on a fully diluted basis, representing an enterprise value of about £1.61 billion. Importantly, the price represents a 55% premium to Alpha's undisturbed share price of £27.45 on 1 May 2025, the day before Corpay confirmed it was in discussions. It also marks a 71% premium to the one-month volume-weighted average price of £24.81 leading up to that date.

While shareholder approval marks a significant step, the deal is not yet complete. The scheme remains subject to Court sanction at a hearing expected in the fourth quarter of 2025. Other customary conditions must also be met—or waived—before the transaction can be finalized. If approved, the scheme is expected to take effect later this year.