KKR to buy First Data for $29 million
Private-equity firm Kohlberg Kravis Roberts & Co. has agreed to purchase credit card and payments processor First Data Corp., in a deal valued at about $29 billion, according to published reports.
Private equity firm Kohlberg Kravis Roberts & Co. has agreed to purchase credit card and payments processor First Data Corp., in a deal valued at about $29 billion, according to published reports.
In what would be second-largest buyout ever, First Data shareholders would be paid $34 for each share of the company they own, a 26 percent premium to where the shares closed on March 30, according to Reuters.
Based on the 775.1 million shares outstanding the company had in February, the deal has an equity value of $26.4 billion.
The deal ranks only behind KKR’s and Texas Pacific Group’s ongoing takeover of TXU Corp. in terms of size, according to Reuters.
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