FIS, Global Payments Held Unsuccessful Talks to Merge
December 20 2020 - 1:32PM
Dow Jones News
By Cara Lombardo and Dana Cimilluca
Fidelity National Information Services Inc. and Global Payments
Inc. recently held unsuccessful talks for a merger deal that could
have been valued at around $70 billion, people familiar with the
matter said, in a sign that a wave of consolidation is still
sweeping through the payments industry.
The companies, which make technology that facilitates merchant
payments and banking, were in advanced talks and aiming to announce
a deal this coming week before the negotiations broke down in the
last few days, the people said. It couldn't be learned what
specifically caused them to falter.
Had the companies managed to strike a deal, it would have been
the biggest of the year by far, eclipsing several transactions
valued at about $40 billion, according to Dealogic. Global Payments
has a market capitalization of nearly $59 billion. Fidelity
National, widely known as FIS, has a market value of around $90
billion.
Though there is little prospect of the talks coming back to life
imminently, they could get revived later, some of the people
said.
--Peter Rudegeair contributed to this article.
(END) Dow Jones Newswires
December 20, 2020 13:17 ET (18:17 GMT)
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