DLO - Latin American payments firm DLocal surges amid takeover report

2023-08-14 16:05:49 ET

• DLocal ( NASDAQ: DLO ) jumped 7.7% amid a report that the Latin American payments services firm is exploring a potential sale amid takeover interest.
• The company is working with a financial adviser and has been talking to possible bidders, according to a Bloomberg report, which cited people familiar with the situation. No final decision has been made, and the company may decide to stay independent.
• The news comes after a report in late May that the Argentine government was investigating the Uruguayan payments company, which sent the company's shares plunging 17% on May 26. DLocal ( DLO ) said the article was "factually incorrect."
• DLocal ( DLO ) short interest is 11.5%. DLocal has a market cap of $3.7 billion.

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