Pepper Money shares surge after Challenger-led $1.16 billion takeover approach

Pepper Money disclosed it’s received a confidential, non-binding, and conditional buyout approach from Challenger and top shareholder Pepper Group, aiming to acquire all of the non-bank lender through a scheme of arrangement. The proposal values Pepper Money at $2.60 a share in cash, with the figure set to be adjusted for the company’s final 2025 dividend and any special payout. https://announcements.asx.com.au/asxpdf/20260209/pdf/06w2xl642f3455.pdf