The U.S. Justice Department on Thursday cleared VeriFone Systems Inc's (PAY.N) purchase of Hypercom Corp (HYC.N), after the companies agreed to divest the point-of-sale terminals business to a private equity-backed group. The Justice Department's antitrust division had sued to block the deal in May because the proposed buyer of that business did not resolve competition concerns. The companies have since found an alternate buyer, a group backed by Gores Group LLC, the department said.
VeriFone Systems, Inc. (VeriFone), formerly VeriFone Holdings, Inc. Shares of PAY fell by 0.46% or $-0.19/share to $40.80. In the past year, the shares have traded as low as $20.97 and as high as $58.88. On average, 2857540 shares of PAY exchange hands on a given day and today's volume is recorded at 2091770.
Hypercom Corporation (Hypercom) is a global provider of electronic payment and transaction solutions and value-added services at the point of transaction. Shares of HYC traded higher by 0.66% or $0.06/share to $9.19. In the past year, the shares have traded as low as $3.05 and as high as $12.70. On average, 1146680 shares of HYC exchange hands on a given day and today's volume is recorded at 2875522.
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