British fintech FNZ Group has started ratcheting down its bidding price for Australian GBST Holdings after the local company failed to wave through a $4 per share takeover on Thursday night.
As of Friday morning, FNZ's bid had decreased to $3.85. Moreover, the prospective buyer is prepared to take that lower if GBST does not accept the bid by 7 pm on Friday.
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Lucas Baird is a journalist based in The Australian Financial Review's Sydney office. Connect with Lucas on Twitter. Email Lucas at lucas.baird@afr.com
