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Corpay acquires Alpha Group

November 2025

Client(s) Corpay, Inc.

Jones Day advised Corpay, Inc. (NYSE: CPAY) in the acquisition of Alpha Group International plc (LSE: ALPH) (“Alpha”). Alpha is a leading provider of B2B cross border FX solutions to corporations and investment funds in the UK and Europe. Alpha pioneered alternative bank accounts as a simpler, faster way for investment managers to fund their investments and pay expenses anywhere in Europe. Today, Alpha holds approximately $3 billion of deposits in over 7,000 client accounts.

Under the terms of the offer, Alpha shareholders received £42.50 per share, representing a 55% premium to Alpha’s undisturbed closing share price on May 1, 2025. The terms of the acquisition value the entire issued and to-be-issued ordinary share capital of Alpha at approximately $2.4 billion (£1.8 billion).

The acquisition was affected by means of a court-sanctioned scheme of arrangement under Part 26 of the UK Companies Act 2006.

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