CD and R Eyes Global Payments Buyout
Private equity firm CD and R is exploring a buyout of payments processor Global Payments alongside major shareholder GTCR. Shares rose following reports of the early-stage talks.
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Private equity firms CD&R and GTCR are exploring a joint buyout of GLOBAL PAYMENTS INC in a deal that would rank among the largest leveraged buyouts in history, a person familiar with the matter said during afternoon trading. The potential transaction follows a 60% drop in the payments processor's share price from its 2021 peak and $22B in net debt. A successful buyout would remove another major independent player from public markets as traditional fintechs face intense pressure from digital competitors.
