Paul Mumford at Cavendish Asset Management, which owns 112m shares in Monitise, had led the charge against the 2.9p offer after deriding it as “too low” given the stock peaked at 80p. No other offers have emerged for the former tech darling but there has been little sign that agitated retail investors are willing to accept the bid. The American company has given itself two weeks to corral more support from Monitise shareholders but has not yet chosen to sweeten its offer. Monitise management has continued to recommend the deal having warned of the tough task it faces should Fiserv walk away. The London company has failed to drum up any sales of its FinKit software and could face a fire sale of its assets should the Fiserv bid fail.

https://www.ft.com/content/049d6eb1-088e-3b0a-9582-47e3a81f40a5