CD&R and GTCR Halt Efforts to Buy Global Payments
Key Facts
Reuters reported on November 12 that private equity firms CD&R and GTCR had halted their efforts to acquire Global Payments, citing two people familiar with the matter. The firms had explored a potential deal for several weeks, but talks remained at an early stage. The sources said discussions did not advance because of the complexity of taking a company of this size private. Reuters valued Global Payments’ market capitalization at about $26.4 billion. The halt ends the current talks, while the possibility remains that they could resume later or another buyer could emerge, according to the sources.
Global Payments shares fell 9% on Thursday, November 12, and trading was halted under a volatility curb mechanism, according to an Investing.com report citing Reuters. The decline followed news that CD&R and GTCR had abandoned their efforts, directly reflecting the reduced likelihood of an acquisition deal. The company’s shares closed at $100.23 on November 11, according to EL7 data. The stock recorded closing prices of $94.98 on November 5, $97.40 on November 6, $97.77 on November 9 and $101.59 on November 10. These prices provide context for the stock’s movement before the announcement, while the November 12 decline was the recorded reaction to the news that talks had halted.
Reuters noted that buyout firms face higher borrowing costs and tighter financing markets when arranging large deals. Those conditions make it harder to raise the financing needed for a deal aimed at taking a company of this size off the public market. In Global Payments’ case, Reuters said the complexities of arranging a deal on this scale prevented discussions from advancing. The sources disclosed no final offer or binding agreement between the parties. The company and the two investors also provided no further details on the course of the talks at the time.
Global Payments helps merchants accept card and digital payments and also provides technology software and services to businesses. Reuters said the company had faced slower growth in some business lines, increased competition and investor demands to improve profitability. Those pressures put operational efficiency and a sharper business focus at the center of its strategic direction. In April 2025, Global Payments agreed to buy Worldpay from FIS and GTCR in a deal valued at more than $24 billion. Under the same arrangement, it agreed to sell its issuer solutions business to FIS, in a move aimed at focusing more heavily on merchant services and expanding its scale in payment processing.
The company’s reported third-quarter 2026 results reflect an operating trajectory separate from the acquisition talks: it recorded GAAP revenue of $3.31 billion and adjusted net revenue of $3.18 billion. Adjusted earnings per share rose 10% to $3.58 in the quarter, according to the earnings release. The company also raised its target for annual run-rate expense savings from the Worldpay integration to $650 million and announced plans to return more than $2 billion of capital to shareholders during 2026. It said it still expected full-year adjusted net revenue growth, on a normalized, constant-currency basis, of about 4% to 5%. It also maintained its 2026 adjusted earnings-per-share outlook at $13.60 to $13.80.
The halt in the current talks does not rule out a later deal: the sources said CD&R and GTCR could resume discussions at a later date, or another buyer could emerge for the company. The sources did not specify a possible date for any resumption and did not announce any alternative path in progress. CD&R declined to comment, while Global Payments and GTCR did not immediately respond to requests for comment, Reuters reported. As part of its third-quarter disclosures, the company’s board approved a cash dividend of $0.25 per share, payable on December 24, 2026, to shareholders of record on December 10. These announced dates remain the nearest specified shareholder entitlements in the information available about the company.