Global Payments shares jump more than 11% on reports that CD&R and GTCR are exploring a take-private deal
Shares of US payments processor Global Payments rose more than 11% on Friday after reports that private equity firm CD&R, teamed up with the company's biggest shareholder GTCR, is exploring a deal to take it private. A source told Reuters the talks are at an early stage and may not happen.
Shares of Global Payments, a US payments processor, rose more than 11% in afternoon trading on Friday 30 October after reports that the private equity firm Clayton, Dubilier & Rice (CD&R) is exploring a deal to take the company private, Reuters reported.
The Financial Times reported earlier on Friday that CD&R had teamed up with private equity group GTCR, Global Payments’ biggest shareholder, on a joint bid that would rank among the largest leveraged buyouts in history, according to Reuters.
A source familiar with the matter told Reuters that the talks were at an early stage and might not lead to a deal. CD&R and GTCR declined to comment, and Global Payments did not immediately respond to Reuters’ request for comment. No offer has been announced.
Global Payments has a market value of about $23 billion, according to LSEG data cited by Reuters. Analysts at William Blair said in a note that they found the idea “credible” given that GTCR owns about 15% of the shares, but that the company’s nearly $22 billion of net debt “could be an impediment”, Reuters reported.
In 2025, Global Payments agreed to buy rival Worldpay from FIS and GTCR in a deal valued at more than $24 billion. Its shares fell after that announcement, and activist hedge fund Elliott Investment Management later built a sizable stake in the company, Reuters reported. The stock is down more than 60% from its 2021 record high.
Sources
- CD&R explores deal to take payments processor Global Payments private, source says · Reuters (via Investing.com)
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