Private equity firm CD&R is reportedly pursuing a buyout of payments processor Global Payments, which has an enterprise value of roughly $40 billion, according to the Financial Times, citing people familiar with the matter. CD&R has reportedly teamed up with GTCR, Global Payments’ largest shareholder, on a joint bid that would rank among the largest leveraged buyouts in history; talks are ongoing, no deal is certain, and Global Payments shares rose more than 11% on the news. The main objective, if a deal materializes, would be to take the stock private after its decline of more than 60% from its 2021 peak, following investor pushback over its $22.7 billion purchase of Worldpay from GTCR and FIS and pressure from activist investor Elliott Investment Management. Key players include CD&R, GTCR, which received cash and Global Payments stock in the Worldpay deal, and Global Payments, which has a market value of about $23 billion and net debt of roughly $17 billion.
CD&R Pursues Buyout of $40 Billion Payments Processor Global Payments, FT Reports
