Deals
Global Payments to Buy Heartland Payment for $4.3 Billion
- Stock and cash deal has transaction value of $100 per share
- Combined company expected to generate $3 billion in revenue
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Global Payments Inc. agreed to buy smaller rival Heartland Payment Systems Inc. for about $4.3 billion as card-processing companies consolidate and adapt to new technology.
Heartland shareholders will receive 0.6687 share of Global Payments stock and $53.28 for each share of Heartland stock, for a transaction value of $100 a share, the companies said Tuesday in a statement. Heartland climbed 11 percent to $94.33 at 4:50 p.m. in extended trading in New York, while Atlanta-based Global Payments slid 2.3 percent to $69.75.