Global Payments (NYSE:GPN) made it crystal clear that it isn’t in any form of discussion with Shift4 Payments (NYSE:FOUR) regarding a potential deal. The unequivocal statement came in response to an earlier report suggesting that the payments juggernaut was mulling over a purchase of Shift4.
“Despite the grapevine buzzing with all sorts of talks, we want to set the record straight that we are not in discussions with Shift4 regarding any strategic move,” a spokesperson for Global Payments (GPN) asserted in an email statement to Seeking Alpha.
On Thursday, markets witnessed a fervent reaction to the rumors as Shift4 Payments (FOUR) saw a spirited gain of nearly 5%, while Global Payments succumbed to a drop of 2.6% after a Bloomberg report hinted at its interest in acquiring the payments trailblazer. Surprisingly, Shift4 Payments (FOUR) chose to remain mum in response to a Seeking Alpha email request for comment, adding an air of mystery to the entire saga.
It’s also worth noting that Global Payments (GPN) sealed a major acquisition deal in the payments arena earlier this year, when it clinched frontrunner EVO Payments for a hefty $4 billion, inclusive of debt.