Reports emerged Monday that Canadian payments processor Nuvei is in advanced talks to buy Payoneer Global for roughly $2.7 billion, and the stock exploded — then quickly began giving back gains. Payoneer closed Tuesday at $6.39, up 24.32% , continued climbing to $6.67 Wednesday, and is now retreating 5.3% to $6.32 in pre-market Thursday as traders lock in profits and reckon with whether this deal will actually happen.
• The Offer Price Implies a Big Premium — But the Stock Still Trades Below It
The $2.7 billion purchase price includes Payoneer's cash, implying an enterprise value of about $2.3 billion. Before the news broke, Payoneer had a market capitalization of around $1.7 billion. That means Nuvei is effectively offering a ~60% premium to Payoneer's pre-leak value. At $6.32, shares still sit well below the implied per-share takeout price near $8, suggesting the market is pricing in meaningful risk the deal collapses. Talks are ongoing and the deal "may change or not materialise at all," sources told Reuters.
• Nuvei's Private-Equity Backers Are Betting on Cross-Border Scale
Nuvei has pursued growth through acquisitions since it was taken private in a roughly $6.3 billion buyout led by Advent International in 2024.
A deal would combine Nuvei's business of helping merchants accept payments with Payoneer's networks for sending money to suppliers, freelancers and sellers, and increase Nuvei's presence in emerging markets.
Payment companies are increasingly seeking scale through M&A as well as exposure to faster-growing segments such as cross-border and business-to-business payments amid slower growth for traditional payment processing.
• Payoneer's China Exposure Adds Risk to Both Sides of the Trade
Payoneer has faced uncertainty linked to U.S. tariff policy and trade tensions; customers in greater China represented 34% of its revenue in 2025, making it susceptible to disruptions in cross-border trade flows. That concentration could complicate due diligence or give Nuvei leverage to renegotiate terms downward.
• Slowing Growth Could Make $2.7 Billion Hard to Justify — or Easy to Accept
In 2025, Payoneer's revenue was $1.05 billion, an increase of 7.68% compared to the previous year, while earnings fell 39.59%.
Shareholders may be in a tough spot: Payoneer's revenue growth has slowed dramatically, so it may not feel like a great ten-year hold, but Nuvei's acquisition price isn't much higher than the stock's 52-week high. For long-suffering investors — those who bought $1,000 of shares five years ago now hold just $647.67 — a completed deal might be the best exit available.