Global Payments Inc. (GPN) Makes Important Progress With Worldpay Deal

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Global Payments Inc. (NYSE:GPN) is a payment software technology firm. It is currently in the process of acquiring financial technology company Worldpay. On this front, Global Payments Inc. (NYSE:GPN) secured a major win in December after the European Commission greenlit the deal. The Commission made the announcement on December 12th after it outlined that it had approved the acquisition under the EU Merger Regulation. In its announcement, the regulatory body outlined that it had concluded that Global Payments Inc. (NYSE:GPN)’s deal would not raise competitive concerns. As a result, it termed its approval “unconditional.”

Global Payments Inc. (NYSE:GPN) had agreed to buy Worldpay in April through a $24.25 billion deal that will also see it sell its issuer solutions unit for $13.5 billion. A Bloomberg report on November 6th claimed that the firm was marketing as much as $6.2 billion in bond sales to finance the deal. The European Commission’s approval came after the British Competition and Markets Authority (CMA) had cleared Global Payments Inc. (NYSE:GPN)’s deal on October 20th. The deal is quite important for the firm and its industry as the combined entity is expected to process 94 billion transactions across 175 countries and generate $12.5 billion in adjusted revenue as well as $6.5 billion in adjusted core earnings.

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Disclosure: None. This article is originally published at Insider Monkey.