Deals
Global Payments, Total System Have Held Tie-Up Talks, Sources Say
- All-stock deal could be announced as soon as next week
- Global Payments shares hit record high, Total System up 12%
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Global Payments Inc. is nearing an all-stock deal to buy Total System Services Inc. for about $20 billion, according to a person familiar with the matter, in what would be the third mega-merger in the payments industry this year.
The companies are preparing to announce a transaction as early as Tuesday, said the person, who asked not to be identified because the matter isn’t public. The companies had also discussed possible joint ventures and other ways to partner up, people with knowledge of the talks said earlier.