Activist Elliott How can global payments to raise the sharing price

Company: Global Payments Inc (GPN)

Business: Global payments A payment technology company delivers its customers to its customers globally. The merchant provides worldwide payment technology and software solutions for small and medium-sized enterprises, and selects the average market and enterprise customers for small and medium-sized enterprises. Offers authority, settlement and financing services, customer support, back payment decision, reconciliation and dispute management services, terminal rental, sales and placement, payment security services, consolidated computing and reporting. Numerous vertical markets offer a business management program solutions that facilitates work operations. The issuer provides financial institutions and retail sales technologies to manage card portfolios via the segment. This provides alternative and electronic payment alternative solutions that support flexible commercial payments, B2B payment processes and support B2B payment processes.

The stock value: $ 19.98b ($ 81.93) for a share)

Activity: Elliott Investment Management

Property: n / a

Average price: n / a

Action Comments: Elliott is a very successful and aste activist investor. The company’s team covers the analysts of the leading technological special capital companies, engineers, operating partners – former technology professional and coos. When evaluating an investment, the company also hires specialists in specialists and general management consultants, expert value analysts and industry experts. Elliott often follows companies before investing often and has a wide stability of impressive control candidates. The company has historically aimed at strategic activity in the technology sector and it was very successful with the strategy. However, in the past few years, its activity group has grown and Elliott generates value above the plaque level in the width of more management orientation and width of the company.

What happens

Elliott has took a position in global payments.

Behind the scenes

Global payments are a leading provider of payment processing and software solutions aimed at serving small and medium merchants and selecting medium and secondary market and enterprise customers. The company operates through two segments: merchant solutions and issuing solutions. Holiday solutions allow customers to accept customers card, check and digital payments to offer customers card, inspection, configuration, financing, financing and other services to customers, contributing to one third of total sales. Simply, global payments, as a merchant buyer, acts as a mediator between the merchant and the card network and facilitates operations. Provides comprehensive trading solutions supporting the payment ecosystem for global payments, core processing, enterprise tchinization and proposals such as proposals such as the SEQMENT of the issuer solutions segment. This segment was created in the following cases in 2019 merger Global payments and general system services (“TSYS”), equal combination company to create both merchants and create a leading payment company in the issuing services.

In 2021, about $ 220 per share and an enterprise with more than one share, taxes, depreciation and depreciation (home / Ebit) and the company is about $ 80 per company and a high-digit-digital trade per share. The company managed to carry water during the pandemic, despite the global slowdown and small and medium enterprises. However, the sales growth has been increasing since 2020, currently under the high-alone growth rate, market share, Fiserv clover, shopping, shop and the high-level growth rate of those obtained under the shopping, shop and others. All are very interesting, but this activist does not consist of the campaign. This is about a company that makes a poor To get “acquiring” farm “ and now it is in an infection that will determine the future.

Announced that there are global payments on April 17 Agreed to get Worldpay Loyalty National Information Services (FIS) and a special capital firm GTCR. Three-sided cash and sharing, at the same time, the business of world payments (previously known as TSYS), approaches (previously recognized TSYS) business, which values $ 24.25 billion. The shares of global payments decreased by 17% after announcements for many good reasons: (i) have a poor trailing record (or integrating (or integrating) or (or integrate into the highest, (or integration) Advancedand (iii) the company paid a lot for WorldPay – 6.5 times more than 10.5 times EBbit against the global payment artisan 10.5 times. Moreover, investors have questioned such deals in this type of three largest deals in a consolidation wave of 2019 (global payments – TSYS and Fis – Worldpay).

But the good news is that the failure is precious. The management will provide a strategic sense of strategic meaning to world payments for world payments, and provide 600 million dollars to the provision of clean game trade solutions and $ 600 million. The market does not believe it or the management is less faith that this class can achieve this class. Today, since the exchange trade, the management can reach this class to reach this class and approach this operation, will be a beautiful turn for shareholders. This company is currently in need of implementation and advanced reliability and Elliott can provide both.

There are companies and companies that need to use a joint-stock office in the Council. Global payments are closer to the last. Management is responsible, an employee who organizes a M & A moratorium and combined to add members to a large shopping experience, will restore investor confidence in the company. After that, the plaque, the fund of global payments can still be significantly worth it, and can start returning the right time and start receiving backs in the right time. We also wait for the most important business boards of the Board – monitor and appreciate the higher administration, but we do not think there will be any material management changes to obtain such a big.

Almost considering the universal opposition to the worldview and the confidence of the low investor management, Elliott would expect to walk on this board with any reasonable slate. Using a universal proxy card, the global payments will face almost an important defeat for a single unitary plaque. Elliott recently He won two of the four seat Phillips fights a proxy in a proxy in 66. The Fund organized an active activist as a strategic activist in technology companies, and receives or participating in technology companies. However, Elliott has become a broader and comprehensive activist in the strategy, sector and geography since then. Today, the firm is often the best activity from the plaque level. We believe that a reconstructed board of Elliott will restore investors and increase the possibility of successful integration of WorldPAY.

Ken Squire, 13D Monitor, Institutional Research Service and Head of the Institutional Research Service and 13D Foundation’s Institutional Research and Portfolio, an activist is the creator and president of mutual fund investing in the investment portfolio.