Why Fidelity National Information Shares Are Gaining Today
Portfolio Pulse from Vandana Singh
Private equity groups are considering purchasing a majority stake in Worldpay from Fidelity National Information Services Inc (FIS) at a valuation exceeding $15 billion. This would deviate from FIS's plan to spin off Worldpay as a separate publicly traded entity. Large Wall Street lenders are reportedly discussing the possibility of financing the deal. FIS shares are up 8.41% in premarket trading.
July 03, 2023 | 1:30 pm
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FIS's plan to spin off Worldpay might be changed due to interest from private equity groups. This news has led to an increase in FIS's share price.
The news of potential acquisition of Worldpay by private equity groups has led to an increase in FIS's share price. This indicates that the market views this potential deal positively. However, it also introduces uncertainty as it deviates from FIS's previously announced plan to spin off Worldpay.
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IMPORTANCE 80
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