CabCharge Knocks Back Fleetcors Take-Over Attempt

Can’t win them all, even Fleetcor. After successfully buying out rival Comdata early this year, Fleetcor was not able to pick up Cabcharge, after the company received a letter of interest from the U.S.-listed group.

Cabcharge said FleetCor Technologies’ letter did not contain any specific financial offer and after considering the options available to Cabcharge, the board chose not to pursue the offer.

The taxi account services company issued a release responding to reports in The Australian Financial Review that Cabcharge had received a half-a-billion dollar offer from U.S.-based FleetCor Technologies.

The company said it was not aware of the source of the “$500 million” figure reported in the original Australian Financial Review article.