Has A Window Opened To Acquire A Great Acquirer In Global Payments?
Stephen Simpson, CFA
Stephen Simpson, CFA
Thu, Jul. 28, 6:57 AM
Wed, Jul. 27, 5:30 PM
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Wed, Jun. 29, 7:25 PM
- Global Payments (GPN +1.6%) has been revealed as the payment processor moving its headquarters down to Atlanta, wtih plans for $220M in investments in the area.
- Atlanta officials had been working on a secret "Project Spinoza," which was the Global Payments move.
- The company will set up in Buckhead, bringing about 150 jobs of over $200K annual salary to the area. Much of the $220M in investments will be in a data center.
- The company currently has its HQ in Sandy Springs. Atlanta's city council will vote on a $75K grant for the company from an Economic Opportunity Fund next week.
Tue, Apr. 26, 11:43 AM
Sun, Apr. 24, 6:27 PM
- via Credit Suisse, the 15 hottest large cap "rising stars," followed by the number of large cap funds that own them, and the change vs. prior quarter.
- SYF - Synchrony Financial, 74 | 47
- MSFT - Microsoft, 350 | 36
- GOOGL - Alphabet 324 | 39
- MCD - McDonald's, 104 | 24
- DAL - Delta Air Lines, 114 | 19
- GPN - Global Payments, 34 | 19
- TSN - Tyson Foods, 61 | 18
- CVX - Chrvron, 180 | 17
- DFS - Discover, 90 | 16
- RTN - Raytheon, 85 | 16
- WFC - Wells Fargo, 250 | 16
- GIS - General Mills, 63 | 15
- JPM - JPMorgan Chase, 276 | 15
- URI - United Rentals, 36 | 15
- CBS - CBS Corp., 65 | 14
- CMCSA - Comcast, 223 | 14
- "We are wary of owning too many Rising Stars, as the potential for differentiation has diminished,"
Fri, Apr. 22, 5:39 PM
Tue, Apr. 19, 5:28 PM
- Global Payments (GPN -0.4%) has risen 1.5% after hours on news it's heading into the S&P 500, replacing GameStop (NYSE:GME).
- The game retailer is changing places with Global Payments and heading into the MidCap 400, as Global Payments' market cap will be more reflective of the 500 after its acquisition of Heartland Payment Systems.
- Those moves are effective after the close on Friday. In addition, Krispy Kreme Doughnuts (NYSE:KKD) is up 3.9% after hours, replacing Pinnacle Entertainment (NASDAQ:PNK) in the SmallCap 600, as Pinnacle is heading for a spinoff/merger.
- Now read Has A Window Opened To Acquire A Great Acquirer In Global Payments? »
Wed, Apr. 6, 7:25 AM
- Global Payments (NYSE:GPN) reports adjusted revenue rose 11% on a constant currency basis in FQ3.
- Segment Adjusted revenue : North America: $311.62M (+6.2%); Europe: $130.47M (+8%); Asia-Pacific: $54.88M (+2.5%).
- Segment Cash earnings : North America: $84.84M (+9.1%); Europe: $64.90M (+8.2%); Asia-Pacific: $17.79M (+28.6%).
- Cash operating margin grew 50 bps to 28.7%.
- FY2016 Guidance: Adjusted total revenue: $2.06B to $2.10B (+6% to +8%); GAAP revenue: $2.87B to $2.95B (+4% to +6%); Cash EPS: $2.93 to $3 (+16% to 19%); GAAP diluted EPS: $2.36 to $2.43 (+14% to +18%).
Wed, Apr. 6, 7:15 AM
Wed, Apr. 6, 7:07 AM
Tue, Apr. 5, 5:30 PM
Mon, Mar. 7, 5:40 PM
Dec. 31, 2015, 2:48 PM
- Piper Jaffray has downgraded Heartland Payment Systems (NYSE:HPY), saying the emergence of another bidder to compete with Global Payments (NYSE:GPN) is unlikely.
- Earlier this month, Global Payments announced an acquisition plan to take over Heartland for $4.3B in cash and stock. The deal valued Heartland at $100/share.
- Piper has downgraded Heartland to Neutral, but bumped its price target to that per-share price ($100).
- Heartland shares closed yesterday at $95.34, implying just short of 5% upside in a successful deal.
Dec. 16, 2015, 10:01 AM
- Global Payments (GPN -8.4%) is down sharply after agreeing to snap up Heartland Payment Systems.
- Though analysts agree that significant synergies can be struck between the payments companies, some concerns over the new level of valuation are being raised.
- Credit Agricole is taking the long view on the deal, with an upgrade on Global Payments to Outperform from Underperform.
- Shares of GPN are still up over 60% for the year.
- Previously: Global Payments and Heartland Payment Systems to combine in $4.3B deal (Dec. 15 2015)
Dec. 16, 2015, 9:14 AM
Dec. 15, 2015, 4:33 PM
- It's a cash and stock deal with Heartland Payment (NYSE:HPY) owners receiving 0.6687 shares of Global Payments (NYSE:GPN) and $53.28 in cash for each share of HPY they hold, thus valuing HPY at $100 per share vs. today's close of $85.16.
- Global Payments sees the deal as being mid-single digit accretive to cash EPS in fiscal 2017, and double-digit accretive thereafter. The company expects at least $50M in synergies in fiscal 2017, and $125M annually thereafter. Closing is expected in fiscal 2016 Q4.
- A conference call is set for 5 ET
- HPY +10.4% to $94 after hours. GPN -4.3%.
Global Payments, Inc. engages in the provision of payment technology services. It operates through the North America Merchant Services and International Merchant Services segments. The North America Merchant Services segment includes direct sales, integrated payment solutions, independent sales... More
Industry: Business Services
Country: United States