Ailing FX Broker Argentex Says It Secured £6.5 Million Lifeline

Argentex Group Plc, the currency management firm that faced a “rapid and significant” cash squeeze amid the tariff-induced market turmoil in recent weeks, said it’s secured a £6.5 million ($8.6 million) bridge loan from suitor IFX Payments.

IFX has also proposed buying Argentex for 2.49 pence a share in cash, according to a statement. Discussions over the deal remain in an advanced stage and the board is minded to recommend the possible offer to shareholders, the statement said.

The move comes after the London-listed company said on Tuesday it was taking steps to preserve cash and increase collateral from ...