Worldpay’ $24.3 bilion deal with Global Payments Inc. to create a payment processing behemoth avoided a deeper investigation as the UK watchdog found the deal will not weaken competition in the country, according to Bloomberg.
The Competition and Markets Authority said on Monday that it cleared the anticipated acquisition. The CMA started the initial merger probe in September after the deal was announced in April.
„The CMA has cleared the anticipated acquisition by Global Payments Inc. of Worldpay Holdco LLC. The full text of the decision will be published shortly.” – the UK watchdog said.
Global Payments and Worldpay provide highly complementary payments, software and commerce enablement solutions to merchants and partners worldwide. Announcing the deal, Global Payments said that: „On a combined basis, the company will have extensive global reach and scale, serving more than 6 million customers and enabling approximately 94 billion transactions and $3.7 trillion in volume across more than 175 countries.” – according to the press release.
The transaction positions Global Payments as a leading merchant solutions provider, with exposure to the most attractive geographies and verticals and capabilities to serve the full merchant spectrum, from SMB to enterprise, and all manner of software and platform providers globally.
The combined company is expected to have pro forma 2025 annual adjusted net revenue and adjusted EBITDA of approximately $12.5 billion and $6.5 billion, respectively, inclusive of run-rate expense synergies. Global Payments expects to retain its investment grade credit ratings at closing, and to reduce adjusted net leverage to 3.0x within 18 to 24 months.
Banking 4.0 – „how was the experience for you”
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