US Global Payments and Total System have agreed to merge


Global Payments and Total System Services, which provide payment processing services in the United States, will merge through a share exchange. As informed sources told Bloomberg, the transaction volume is estimated at $21.5 billion. In the combined company, the position of chief executive officer will be taken by Global Payments CEO Jeff Sloan, and the chairman of the board of directors will be CEO of Total System Troy Woods. Sources also told the agency that 52% of the future company will be owned by Global Payments shareholders and 48% - by Total System shareholders. According to CNBC estimates, the cost of the new company will be at around 40 billion dollars.

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