Wex Inc (WEX)

WEX Inc. Stock (WEX) dropped by 7.96% from $180.45 to $166.09 in the trading on Thursday October 26, 2023. The reason why WEX stock down today is due to Payzer acquisition agreement.WEX announced the signing of a definitive agreement to acquire Payzer, a cloud-based management software provider for total consideration of about $250 million, with additional contingent consideration of up to $11 million based on defined performance metrics. WEX intends to finance the acquisition through its revolving credit facility and cash on hand. The transaction is expected to be completed before the end of 2023.