Fiserv to buy Canadian firm Payfare in $140 mln deal; shares slide

Payfare

23/12/2024 16:32

** Shares of U.S. fintech firm Fiserv  FI.N  edge lower
~0.6% to $204.95
    ** Fiserv will buy Canada's fintech firm Payfare  PAY.TO  in
a C$201.5 million ($140 million) deal
    ** The transaction, expected to close in the first half of
2025, values Payfare's stock at a 90% premium to last closing
price
    ** Deal could also mark one of the final undertakings by
Fiserv CEO Frank Bisignano, who has been picked by
President-elect Donald Trump to head the Social Security
Administration
    ** Including session's move, stock is up ~54.2% YTD

 (Reporting by Jaiveer Singh Shekhawat in Bengaluru)
 ((JaiveerSingh.Shekhawat@thomsonreuters.com;))