The boards of directors of Fiserv and First Data have unanimously approved a definitive merger agreement. Fiserv shareholders will own 57.5% of the combined company upon the close of an all-stock transaction valued at approximately $22 billion. Private equity firm KKR, which owns 39% of First Data, will own 16% of the new company. First Data has been saddled with debt since a 2007 leveraged buyout led by KKR. Fiserv has more than 12,000 financial institu...