Global Payments in talks to buy Heartland Payment: Bloomberg

Industry:    2015-12-11

Payments processor Global Payments Inc (GPN.N) is in talks to buy smaller rival Heartland Payment Systems Inc (HPY.N), Bloomberg reported, citing people familiar with the matter. A deal to buy Heartland Payment, which had a market value of $2.86 billion as of Wednesday’s close, is expected to be announced as early as this month, Bloomberg said. (bloom.bg/1TDaNtX) Shares of Princeton, New Jersey-based Heartland Payment were up 13 percent at $88.05 after hitting a record high of $94.96 in early trading on Thursday. Global Payments shares were up 3.3 percent at $71.95. Representatives of both companies were not immediately available for comment. Heartland Payment reported better-than-expected earnings and revenue for the quarter ended Sept. 30. The company also forecast full-year revenue of $810-$815 million, above analysts’ average estimate. Read more at Reutershttp://www.reuters.com/article/us-heartland-paymnt-m-a-global-payments-idUSKBN0TT2A520151210#Z4qxkHWRGAcYDjiM.99

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