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Fly News Breaks for May 29, 2019
TSS, GPN
May 29, 2019 | 07:34 EDT
Oppenheimer analyst Glenn Greene raised his price target for Global Payments (GPN) to $161 from $152 after the company announced an agreement to merge with Total System Services (TSS), in an all-stock transaction expected to close in Q4. The analyst notes that Global Payments suggests the deal should generate at least $300M/$100M of run-rate cost/revenue synergies over a three-year period post-close. Greene reiterates an Outperform rating on Global's shares.
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