SCOTTSDALE, Ariz. (
rejected an unsolicited takeover proposal from
of $5.25 a share in cash.
Hypercom, in a press release Thursday, said the
"significantly undervalues" the electronic payments company.
"Hypercom believes that VeriFone's proposal is opportunistic and intended to disrupt its business, which has successfully taken market share from VeriFone in several markets," Hypercom said.
Hypercom shares rose 43.5% to $6.07 in premarket trading Thursday.
-- Written by Joseph Woelfel
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