The Blackstone Group and THL Partners are in talks to buy electronic payment processor Fidelity National Information Services (FIS) for $10 billion, in what would be the biggest leveraged buyout since the financial crisis, a source familiar with the situation told Reuters.
According to several media reports, Blackstone’s acquisition of Fidelity National, a co. that serves more than 14,000 financial institutions and business customers, would include $3 billion in debt. The talks however, are ongoing and the deal may still fall apart, these reports warned.
Fidelity’s current market cap is over $11 billion. Its shares rose as high as $30.78, $4+, in early New York Stock Exchange composite trading.
Fidelity’s stock is up almost 11% year-over-year and more than 40% from a year ago.