January 16, 2019
Fiserv (NASDAQ: FISV) and First Data Corporation (NYSE: FDC) have announced that their boards of directors have unanimously approved a definitive merger agreement under which Fiserv will acquire First Data in an all-stock transaction. The transaction unites two premier companies to create one of the world’s leading payments and financial technology providers, and an enhanced value proposition for its clients. Under the terms of the agreement, First Data shareholders will receive a fixed exchange ratio of 0.303 Fiserv shares for each share of First Data common stock they own, for an equity value of $22 billion.
Latham & Watkins LLP represents the independent directors of the board of First Data in the transaction with a corporate deal team led by New York partner Peter Harwich and Orange County/New York partner Charles Ruck, with associate Allison Eitman.