CD&R and GTCR drop Global Payments pursuit, sources say
The private equity firms halted early-stage talks after several weeks because arranging a takeover of this scale proved complex, people familiar with the matter said. They left open the possibility of renewed talks.
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Private equity firms CD&R and GTCR have abandoned their pursuit of Global Payments, Reuters said on 12 November, citing two unnamed people familiar with the matter. The firms had explored a potential acquisition for several weeks, but talks remained at an early stage.
The people said the complexity of arranging a transaction of this size to take the company into private ownership prevented discussions from advancing. CD&R declined to comment. Global Payments and GTCR did not immediately respond to requests for comment.
Atlanta-based Global Payments has a market value of about $26.4 billion. It helps merchants accept card and digital payments and provides software and technology services to businesses. CD&R is short for Clayton, Dubilier & Rice.
A business already reshaping its operations
Global Payments has faced slower growth in some business lines, stronger competition and investor demands to improve profitability, Reuters said. In April 2025, it agreed to buy Worldpay from FIS and GTCR in a transaction valued at more than $24 billion, while also agreeing to sell its issuer-solutions business to FIS. Those transactions were intended to focus Global Payments more closely on merchant services and expand its payment-processing scale.
The report places the abandoned pursuit against difficult conditions for large leveraged buyouts—acquisitions financed partly with borrowed money. It describes higher borrowing costs, tougher financing markets, market volatility and lenders closely examining how much debt large deals would carry.
The two people said CD&R and GTCR could resume talks later, or another buyer could emerge. Neither possibility amounts to a committed transaction.
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