Elliott Management has built a significant stake in Global Payments (GPN) after the payment processing company bought Worldpay earlier this year in its biggest acquisition to date, The Financial Times’ Oliver Barnes reports. The size of Elliott’s stake as well as its demands have not been learned, Barnes writes. Shares of Global Payments are up over 6% in premarket trading.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GPN:
- Closing Bell Movers: Victory Capital gains on S&P 400 inclusion
- Elliott builds large interest in Global Payments, FT reports
- Correction: TD Cowen maintains Hold rating on Global Payments
- Global Payments upgraded to Buy from Hold at TD Cowen
- Boeing upgraded, PayPal initiated: Wall Street’s top analyst calls