Deals
A Big Transaction for First Data
The payment services giant agreed to KKR's nearly $29 billion buyout offer in the latest high-profile M&A deal
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Private equity firm Kohlberg Kravis Roberts & Co. is planning to buy First Data (FDC) for around $29 billion, the Denver electronic payment services giant announced Apr. 2. It's the latest score for KKR in a red-hot environment for private buyouts of public companies.
The deal involving an unspecified KKR affiliate, subject to approvals, is expected to end by the third quarter of 2007. "We believe that current market conditions present an exceptional opportunity," First Data's CEO Ric Duques said in a press release April 2.