CD&R pursues buyout of $40 billion payments processor Global Payments, FT reports

Private equity firm CD&R is reportedly eyeing a massive $40 billion acquisition of payment processor Global Payments, according to the Financial Times. CD&R has formed a joint bid with GTCR, Global Payments' largest shareholder, in what would be one of the biggest leveraged buyouts on record. The offer for the company has sparked talks, though a deal could still be far from certain, per the FT.

CD&R and GTCR have not commented on the matter, while Global Payments has yet to provide a response to Reuters' request for comment. The company's shares rose 11% in afternoon trading following the report. In 2025, Global Payments purchased rival Worldpay from FIS in a deal valued at over $24 billion, which led to a significant drop in its stock price due to investor concerns over the valuation and debt incurred.

That same year, activist hedge fund Elliott Investment Management amassed a large stake in Global Payments, putting additional pressure on the company to justify the acquisition. As a result, Global Payments' stock has plummeted over 60% since its 2021 peak, with the company currently valued at roughly $23 billion. The payments industry is becoming increasingly competitive, with traditional players facing pressure from fintech firms, technology companies, and other digital payment providers.

This heightened competition has contributed to depressed share prices, making established players more attractive targets for private equity firms and strategic buyers seeking to capitalize on the current situation. Earlier this year, Stripe and private equity firm Advent International proposed to buy digital payments giant PayPal in a deal valued at roughly $53 billion, but these talks have reportedly stalled due to the discount offered.