Fiserv Paying Nearly $22 Billion for First Data Strikes Us as Expensive
In a surprising move, wide-moat rated Fiserv announced its intention to acquire First Data Corporation in an all stock deal, offering up 0.303 Fiserv shares for every First Data share outstanding. Based on the Jan. 15 closing price for Fiserv, the offer values First Data at $22.74 per share, or about $21.8 billion in total equity. As First Data is the product of a KKR leveraged buy-out, the company's balance sheet still has approximately $17 billion in net debt, so Fiserv is ultimately paying an...Fiserv is a provider of financial services technology. The company provides account processing systems, electronic payments processing products and services, internet and mobile banking systems, and related services. The company's segments are: First Data, which provides merchant acquiring, e-commerce, mobile commerce, and other business solutions; Payments and Industry Products, which provides electronic bill payment and presentment services, internet and mobile banking software; and Financial Institution Services, which provides financial institutions with account processing services, item processing and source capture services, loan origination and servicing products, and cash management, among others.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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