8-KMaterial AgreementsRegulation FDExhibits & Filings

GLOBAL PAYMENTS INC 8-K Report, Material Agreement (Jan 28, 2014)

Filed January 28, 2014For Securities:GPN

Summary

GLOBAL PAYMENTS INC (GPN) announced on January 28, 2014, a significant definitive agreement to acquire Payment Processing, Inc. (PayPros) for approximately $420 million, subject to customary adjustments. This acquisition, expected to close by May 31, 2014, represents a strategic move by Global Payments to expand its market presence and capabilities. This transaction positions Global Payments to enhance its service offerings and competitive standing within the payment processing industry. Investors should monitor the closing conditions, including antitrust clearance, and the financial implications of this substantial acquisition as it progresses. The integration of PayPros is likely to be a key focus for the company in the near future.

Key Highlights

  • 1Global Payments Inc. entered into a definitive agreement to acquire Payment Processing, Inc. (PayPros).
  • 2The acquisition price is set at $420,000,000, subject to certain adjustments.
  • 3PayPros will become a wholly owned subsidiary of Global Payments upon closing.
  • 4The merger is expected to close by May 31, 2014, the end of the Company's 2014 fiscal year.
  • 5Customary closing conditions, including antitrust clearance under the Hart-Scott-Rodino Act, must be met.
  • 6The company announced the merger via a press release on January 24, 2014.

Frequently Asked Questions

This 8-K filing announces a material definitive agreement, specifically the entry into an Agreement and Plan of Merger to acquire Payment Processing, Inc. (PayPros).

Global Payments is acquiring PayPros for $420 million, subject to certain adjustments. Investors should look for further details on financing and the expected impact on Global Payments' financial statements in future filings.

The merger is anticipated to close by May 31, 2014, which is the end of Global Payments' 2014 fiscal year, provided all customary closing conditions are satisfied.

Yes, customary closing conditions apply, most notably antitrust clearance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. Failure to secure this clearance could impact the deal's completion.