CD&R and GTCR explore Global Payments take-private
Clayton Dubilier & Rice has teamed up with GTCR to pursue a take-private of Global Payments, which has an enterprise value of approximately $40bn, according to a report by the Financial Times.
Private Equity Wire reports that CD&R and GTCR are exploring a potential take-private of Global Payments, an enterprise valued at around $40bn, as per a Financial Times article. The talks are still in progress and might not culminate in a deal. Global Payments' market cap was roughly $23bn on Friday, with over $17bn in net debt, indicating that any acquisition would likely need to pay a premium.
GTCR emerged as the company's largest outside shareholder following its involvement in Global Payments' acquisition of Worldpay for over $24bn, a deal that faced investor criticism due to added leverage, dilution, and questionable strategic value. If a buyout were to occur, it would be among the largest leveraged acquisitions in history.
Global Payments' shares surged by more than 9% following the report, after previously sliding towards their lowest levels in nearly a decade.
Brief written by urgent.news from Private Equity Wire's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
