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Private equity firm CD&R is exploring a deal to take Global Payments private, Reuters reported on 30 October, citing a source familiar with the matter. CD&R has teamed up with GTCR, the card processor's largest shareholder, and the talks are at an early stage and may not lead to a deal.
Reporting by Reuters, which also cited an earlier report in the Financial Times.
Key figures
| Measure | Figure | Source |
|---|---|---|
| Reported enterprise value of Global Payments | About $40 billion | Financial Times, as reported by Reuters |
| Market value of Global Payments | About $23 billion | LSEG data, via Reuters |
| Global Payments net debt | Nearly $22 billion | William Blair, via Reuters |
| GTCR stake in Global Payments | Roughly 15% | William Blair, via Reuters |
| Share move on the report | Up more than 11% in afternoon trading | Reuters |
| Fall from 2021 record high | More than 60% | Reuters |
All figures as reported on 30 October 2026.
How we got here
Global Payments agreed in 2025 to buy Worldpay from FIS and GTCR in a deal valued at more than $24 billion, which made GTCR its biggest shareholder. The deal closed in January 2026, based on a $24.25 billion enterprise valuation of Worldpay, according to the company's filing. Reuters said investors reacted badly to the price and the extra debt at the time, and the activist fund Elliott Investment Management later built a large stake.
A deal would rank among the largest leveraged buyouts on record, according to the Financial Times. Analysts at William Blair called the idea credible given GTCR's holding, but said the company's net debt could stand in the way, especially if interest rates rise.
CD&R and GTCR declined to comment, and Global Payments did not immediately respond to Reuters.
Why it matters
Traditional processors have lost ground to fintechs, technology companies and newer digital payment providers, which has pushed down their valuations. William Blair said a deal could signal another wave of takeovers that leaves few traditional fintechs listed. Earlier this year Stripe and Advent International also made an offer for PayPal; see PayPal raises 2026 profit forecast.
Sources
Primary sources we checked for this page. Trademarks belong to their owners. Links open the original.
- Reuters (via WSAU): CD&R explores take-private deal for Global Payments (Reuters wire) (accessed 3 November 2026)
- Reuters (via WSAU): CD&R pursues buyout of $40 billion payments processor Global Payments, FT reports (accessed 3 November 2026)
- U.S. Securities and Exchange Commission: Global Payments Completes Acquisition of Worldpay and Divestiture of Issuer Solutions Business (Form 8-K exhibit) (accessed 3 November 2026)
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