Tuesday, December 15, 2015

Heartland Payment Systems = Finally Paying Off

Global Payments (Ticker: GPN) finally announced the acquisition of Heartland Payment Systems (Ticker: HPY). Global Payments is offering 0.6687 of Global Payments and $53.28 in cash. I really really like this deal and intend to hang onto the Global Payment stock when the deal closes. I can see lots of synergies from this deal and looking forward in seeing Global Payments march higher over the long term.


At December 15, 2015, Anonymous Anonymous said...

$icpt rumors on daily mail. Is it reliable compared to BB/Reuters/wsj

At December 15, 2015, Blogger Money Turtle said...

I view the daily mail as a tabloid publication. I take what they say with a grain of salt. Once in a while they may get something right...

At December 16, 2015, Anonymous Anonymous said...

Thanks for another great call.

Do you have an idea when this deal should close?

Also, for DYAX, do you expect the CVR to be tradable after the merger? Any idea what it would trade at?


At December 16, 2015, Blogger Money Turtle said...

I believe $HPY / $GPN is guiding for a May closing. This should easily receive anti trust approval.

The $DYAX CVR will not trade.

At December 18, 2015, Anonymous Anonymous said...

Hi MT,

Based on the current price of GPN ($63.91), it seems that HPY is worth about $96. Looks like most of the move is over, leaving only about 2% left for 5 months. Almost worth liquidating at this point.

Looking for new opportunities.

Did you notice that CNL is moving up again. Have you had a chance to reevaluate?


At December 18, 2015, Blogger Money Turtle said...

I'm planning to hold onto HPY to closing. GPN is selling off a bit probably due to arbs shorting it as a hedge. Once that pressure is off, I can see GPN start to go higher.

I still need to do some more work on CNL. This is a note I have for CNL: Louisiana PSC briefs due 12/22.

Lots of Chinese reverse mergers taking place right now. I'm doing work on those...


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