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MoneySmart rejects MoneyHero’s S$8 million acquisition offer

The move follows MoneyHero’s recent round of layoffs to cut costs

Lindsay Wong ,

Paige Lim &

Yong Jun Yuan

Published Fri, Aug 23, 2024 · 01:43 PM
    • Rohith Murthy, chief executive of MoneyHero, says: "We believe the synergies from this merger will drive significant value for our shareholders and customers.”
    • Rohith Murthy, chief executive of MoneyHero, says: "We believe the synergies from this merger will drive significant value for our shareholders and customers.” PHOTO: BT FILE

    NASDAQ-LISTED MoneyHero Group has made a non-binding offer of US$8 million to acquire its competitor, MoneySmart.

    However, MoneySmart on Friday (Aug 23) announced that it has rejected the unsolicited offer.

    The board of the personal finance company unanimously determined that the approach was “neither serious nor credible”, and that it will not be entertained.

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