Deals
ValueAct Builds $1.2 Billion Fiserv Bet, Touts Square Rival
- ValueAct said Clover could be valued at $30 bln to $45 bln
- Fiserv shares rose as much as 5% on the ValueAct news
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Activist investor ValueAct Capital Management has built a new position in Fiserv Inc. and believes its Clover credit-card processing business could be worth $185 billion by 2024.
San Francisco-based ValueAct has built a new $1.2 billion position in the financial technology and payments firm, according to an investor presentation seen by Bloomberg. It believes Clover’s business is already bigger than that of rival Square Inc. and growing faster, the presentation shows.