Exclusive Report — Sources Say CD&R and GTCR Have Abandoned Acquisition Plans for Global Payments

Milana Vinn/Amy-Jo Crowley

Reuters New York/London, November 12 - According to two sources familiar with the matter, private equity firms CD&R and GTCR have dropped their plans to acquire Global Payments (GPN.N).

Sources said the buyout consortium exited talks to acquire the payment processor after exploring a potential deal in recent weeks. The sources added that the early-stage negotiations failed to advance due to the complexity of arranging such a large-scale privatization deal, prompting both firms to pause their efforts.

The termination of these talks means that one of the largest potential leveraged buyout deals in the payments industry has fallen through, at a time when private equity firms are facing rising borrowing costs and a tightening environment for financing large transactions.

Sources noted that CD&R and GTCR could resume negotiations with Global Payments in the future, or another buyer may emerge for the company.

CD&R declined to comment. Global Payments and GTCR did not immediately respond to requests for comment.

Headquartered in Atlanta, Global Payments has a market value of about $26.4 billion and is one of the world's largest payment processors. The company not only helps merchants accept card and digital payments but also provides software and technology services for enterprises. In recent years, the company has faced pressure due to slowing growth in some business lines, intensified competition, and investor demands for improved profitability.

Global Payments has begun to adjust its business portfolio. In April 2025, the company agreed to acquire Worldpay from FIS FIS.N and private equity firm GTCR at a transaction valuation of over $24 billion, while also agreeing to sell its issuer solutions business to FIS. These deals are aimed at enabling Global Payments to focus more on merchant services and expand its scale in payment processing.

If the acquisition of Global Payments had succeeded, it would have been one of the largest private equity deals of the year. However, arranging financing for such a large transaction remains challenging, especially as market volatility increases and lenders are scrutinizing the leverage levels of large acquisition deals more strictly.

Reuters reported (link) that earlier this year, a consortium led by Stripe and Advent International dropped its bid for PayPal PYPL.O after submitting a takeover offer that valued the payments company at over $53 billion.

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