Takeover offer for e-pay
e-pay Asia, an ASX-listed payments processor with an Asian business focus, is evaluating a takeover bid from its major shareholder.GHL Systems Berhard, a Bursa Malaysia-listed firm, is offering 40 cents a share. Alternatively, it is offering 2.75 shares in GHL.Shares in e-pay traded at 37.5 cents last week. They traded in a range from 12 cents to 15 cents until earlier this year.e-pay mainly sells "airtime" or mobile phone recharge, a low margin business in many markets. It has around 15,000 terminals at merchants in Malaysia, Thailand and Pakistan.A recent strategy presentation outlined a vision to roll up like-minded firms in Asia, with Australia also being a possible target.e-pay said it will form a committee of directors not associated with the bidder to weigh the merit of the offer.