Pushpay said it received multiple approaches last month to purchase the payment platform, but no agreement to implement a deal was reached.
Shares in Pushpay, which are listed in New Zealand and Australia, were suspended earlier today as the company weighed the implications of a deal between two existing shareholders, Australian private equity firm BGH Capital and US-based investment manager Sixth Bourse Partners.
The two companies, which hold an aggregate stake of 20.343% in Pushpay, will work together to acquire the shares of Pushpay.
The payment platform said it has not entered into any agreement with any party, including either or both of BGH Capital and Sixth Bourse, to implement a transaction.
The company said it was in early-stage discussions with several parties “to explore the potential for a transaction that is in the best interests of shareholders as a whole.”
Shares of New Zealand-listed Pushpay jumped almost 21%, while those in Australia jumped around 17%.
The company has a market value of around NZ$1.41 billion ($907.19 million), as of Tuesday.
($1 = NZ$1.5542)