Global Payments’ Enterprise Value Nears $40 Billion in Potential Takeover Bid
Key Facts
CD&R is considering acquiring Global Payments alongside GTCR, the company’s largest outside shareholder, in ongoing talks that may not lead to a deal, according to Investing.com’s coverage of a Financial Times report. The report put Global Payments’ enterprise value at about $40 billion, without citing a proposed purchase price or financing details. The company’s shares rose 12% on Friday after the report was published, according to the same coverage. The figure reflects the approximate enterprise value cited in the report, not a confirmed offer to buy the shares. The talks also do not mean an agreement has been reached: the coverage said they are ongoing and may not result in a transaction.
Investing.com’s coverage put Global Payments’ market capitalization at about $23 billion on Friday afternoon, while net debt exceeded $17 billion. This places the enterprise value cited in the report in the context of both equity value and debt, while the terms of any potential offer remain undisclosed. No proposed purchase price or financing details were reported, according to the coverage. The company’s stock closed at $85.72 on October 29, according to EL7 data. The 12% rise on Friday was reported by Investing.com following the report on a potential takeover.
The potential talks follow Global Payments’ restructuring of its business through two transactions announced in April 2025. The company agreed to sell its Issuer Solutions unit to FIS for $13.5 billion and to buy Worldpay from GTCR and FIS for a net price of $22.7 billion. The company estimated the total value of the Worldpay acquisition at about $24.25 billion, including expected tax assets worth $1.55 billion. The transactions mark a broad shift in the company’s portfolio, with the sale of one business and the addition of a major payments platform. GTCR, which sold its stake in Worldpay as part of the transaction, became Global Payments’ largest outside shareholder, according to the coverage citing the takeover report.
Global Payments estimated that the combined entity would serve more than 6 million customers, process about 94 billion transactions and handle $3.7 trillion in payments annually. The company said this activity spans more than 175 countries. These figures provide context on the platform’s operating scale after Worldpay became part of Global Payments’ business. In its latest results cited in the evidence, the company reported GAAP revenue of $3.32 billion and adjusted net revenue of $3.16 billion in the second quarter of 2026. Adjusted net revenue increased 4% on a normalized basis during the quarter, according to the earnings release.
Adjusted earnings per share were $3.46 in the second quarter, up 12%, the company said. CEO Cameron Bready said results were "consistent with our expectations," citing progress integrating Worldpay and the continuing conflict in the Middle East. For 2025, the company reported adjusted net revenue of $9.32 billion, compared with $9.15 billion in 2024. It reported growth of 2%, or 6% excluding divestitures and on a constant-currency basis. These results provide context for the company’s performance after its portfolio changes, while the company tied its 2026 annual outlook to the conflict’s effect on travel activity.
Global Payments forecast adjusted net revenue growth of about 4% to 5% in 2026 and adjusted earnings per share of $13.60 to $13.80. The company linked its outlook to the continuing conflict in the Middle East and its impact on the travel portfolio. On shareholder returns, the CEO said the company had returned $1.2 billion since the start of the year through August 5, exceeding half of its plan to return more than $2 billion in 2026. The company added that it remained on track to return about $7.5 billion during 2025–2027. It is scheduled to report third-quarter results on November 5, 2026, at 8:00 a.m. Eastern Time, in an update that will follow the report on the potential takeover.