SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
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%.

--------------------------------------------------------------------------------