FDC: First Data May Earn Us the Poor Timing Award
With the end of the first fiscal quarter, we made some changes to our Large Cap Watch List (Track at Marketocracy). These included dumping First Data Corp. (FDC). That may have been a particularly poorly timed move, if this rumor turns out to be true:
KKR to bid $25.6 billion for First Data: source - Yahoo! News
Kohlberg Kravis Roberts & Co. plans to offer $25.6 billion for payment processor First Data Corp., a source familiar with the matter said, in what could become the second-largest private equity buyout.
KKR is in late stage discussions with the company about the proposal, which at $34 per share in cash represents a 26 percent premium to Friday’s closing price of $26.90 per share.
That would sting. While we realize we can’t win ‘em all, we sure hate it when we come this close and lose.
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