GPN stock was trading higher early Friday, after Global Payments pushed back on a report that it is mulling an acquisition of fellow digital payments processor Shift4 Payments.
FOUR stock jumped as much as 9% Thursday, while GPN fell, after Bloomberg reported, citing unnamed sources, that Global Payments has been working with an advisor to study the feasibility of a deal for Shift4. Global Payments pushed back on the report later that night.
"Although we typically do not respond to market speculation or rumors, we are not in discussions with Shift4 regarding any type of strategic transaction," Global Payments said in a statement to Reuters.
GPN stock is up 3.8% at 130.49 in recent action on the stock market today. Meanwhile, FOUR stock built on its gains, adding 3.5% to 73.36 Friday.
Shift4 Chief Executive Jared Isaacman wrote in an early November letter to shareholders that the firm is "actively exploring strategic opportunities and alternatives." In a November interview with Payments Dive, Isaacman said the company has received interest from several parties.
Bloomberg further reported that the deliberations are ongoing for Global Payments and there is no certainty of a deal.
Shift4 has a market capitalization of about $6 billion. Global Payments has a market value around $33 billion.
FOUR stock is up about 27% this year entering trading Friday while GPN is up about 26.5% on the year.
