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Technology Stocks : MSFDC - Microsoft/First Data Corp Joint Venture -- Ignore unavailable to you. Want to Upgrade?

To: Benny Baga who wrote (117)3/24/1999 2:12:00 AM
From: AugustWest  Read Replies (1) | Respond to of 126
First Data to Acquire Stake in Paymentech
PAYMENTECH INC. First Data Corp. to Acquire Stake in Company

Mar. 22, 1999, First Data Corp. (NYSE:FDC - news) reported that it signed definitive agreements with BANK ONE CORP. (NYSE:ONE - news) and Paymentech Inc. (NYSE:PTI - news) to acquire PTI's public shares.

FDC will acquire the outstanding public ownership of PTI at a price of $25.50 per share. Public ownership (approximately 16 million shares) represents approximately 45% of the shares outstanding. ONE owns the remaining 55%.