Fiserv completes acquisition of First Data
The combined company will carry the Fiserv brand and will trade on The Nasdaq Global Select Market under the ticker symbol FISV.
Provider of financial services technology solutions Fiserv, Inc. (NASDAQ:FISV) on Monday announced that it has completed its acquisition of First Data Corporation.
As previously guided, First Data shareholders will receive 0.303 of a Fiserv share for each share of First Data common stock they own prior to market open as of July 29, 2019. The all-stock transaction is intended to be tax-free to First Data shareholders.
The combined company will carry the Fiserv brand and will continue to trade on The Nasdaq Global Select Market under the ticker symbol FISV. As of July 29, 2019, First Data common stock is no longer listed for trading on the New York Stock Exchange.
“The completion of this transformative combination is a major milestone in the evolution of our companies,” said Jeffery Yabuki, Chairman and Chief Executive Officer, Fiserv. “We have continued to identify ways in which we can deliver differentiated value to clients, associates and shareholders, and are excited to work together on fulfilling the promise of the combination. We are confident that our people are the best in the industry and will push the boundaries of excellence and innovation for the benefit of all of our stakeholders.”
As a result of the combination, clients will have access to a more comprehensive set of solutions and innovations, an extensive range of end-to-end capabilities and integrated delivery, which enable differentiated value for their customers.
Early in July, the acquisition of First Data Corporation by Fiserv, Inc. received clearance from the UK Competition and Markets Authority (CMA). The watchdog decided not to refer the merger to a Phase 2 investigation under the provisions of the Enterprise Act 2002.
In May this year, the UK regulator said it was considering whether it may be the case that this transaction if carried into effect, will result in the creation of a relevant merger situation under the merger provisions of the Enterprise Act 2002 and, if so, whether the creation of that situation may be expected to result, in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services.
The merger was first announced in January 2019.