Global Payments wants to purchase the merchant acquiring business of Worldpay in a $22.70-billion cash and stock transaction. Currently, Worldpay is 55% owned by private equity firm GTCR and 45% by financial services technology provider FIS. GTCR finalized its equity purchase in Worldpay from FIS in the first quarter of 2024. That deal, announced in April 2023, called for GTCR to pay FIS $18.50 billion with $1 billion contingent on certain performance thresholds. Simultaneous with Global Payments’ takeover of Worldpay, FIS will pay $13.50 billion (including tax benefits) to purchase 10...