Jan 11 Reuters Thomson Reuters said on Thursday it has offered to buy Sweden39;s einvoicing and tax company Pagero for 6.4 billion Swedish crowns about 627 million, beating an earlier offer from tax technology company Vertex.

Thomson Reuters said it has offered to pay 40 crowns in cash for each Pagero share, representing a premium of 11 to Pagero39;s last close on Wednesday.

Thomson Reuters39; bid exceeds the 36 crown per share bid announced by Vertex for Pagero.

In a separate statement, Pagero said its independent bid committee of the board unanimously recommends to accept the public offer made by Thomson Reuters, and has withdrawn its recommendation to accept Vertex39;s offer.

Thomson Reuters, the parent of Reuters News, said Pagero39;s einvoicing compliance capabilities would expand Thomson Reuters39; indirect tax offerings.

The acceptance period for the offer starts on or around Jan. 12 and ends on or around Feb. 9 this year, the news and information company said in a statement.

1 10.2084 Swedish crowns

Reporting by Jahnavi Nidumolu in Bengaluru; Editing by Sonia Cheema

Source Reuters