January 16, 2019Blog Posts

Fiserv to buy First Data in $22 billion stock deal

Reuters

U.S. financial technology provider Fiserv Inc said on Wednesday it will buy payment processor First Data Corp in a $22 billion deal, making it one of the largest acquisitions in the financial technology sector.

The all-stock deal is at a premium of nearly 30 percent over First Data’s closing price on Tuesday.

First Data shares rose 17.1 percent to $20.55 in early trading, while Fiserv shares fell 5.4 percent to $71.

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