Heartland Payment Systems, Inc. (HPY) - NYSE
  • 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. 31, 2015, 2:48 PM
  • 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%.
    | Dec. 15, 2015, 4:33 PM
  • Dec. 10, 2015, 1:28 PM
    • Heartland Payment Systems (HPY +13.6%) popped after Bloomberg reported that the company is in talks with Global Payments (GPN +3.7%) over a buyout.
    • Sources indicate that a deal could be announced this month.
    • Both HPY and GPN trade at a 52-week high.
    | Dec. 10, 2015, 1:28 PM | 3 Comments
  • Oct. 30, 2015, 7:46 AM
    • Heartland Payment Systems (NYSE:HPY) acquires Digital Dining for an undisclosed amount.
    • Digital Dining is a provider of point-of-sale systems for the restaurant industry.
    | Oct. 30, 2015, 7:46 AM
Company Description
Heartland Payment Systems, Inc. provides bankcard payment processing services to merchants in the United States. It involves facilitating the exchange of information and funds between merchants and cardholders financial institutions, providing end-to-end electronic payment processing services to... More
Sector: Services
Industry: Business Services
Country: United States