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American Express in Talks to Buy Kabbage

By
Ross Matican
· · Source: Bloomberg

American Express is in advanced talks to acquire online lender Kabbage for as much as $850 million in cash, Bloomberg reported. That price would be below Kabbage’s last valuation of $1.2 billion. Kabbage offers loans to small- and medium-sized businesses, many of which have been hard hit by the Covid-19 pandemic. In March Kabbage paused lending and suspended existing credit lines. Since March,...

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