First Data Shareholders Approve Merger With Concord EFS

Thursday 30 October 2003 18:04 CET | News

First Data has announced that its shareholders voted to approve the Companys previously announced merger with Concord EFS.

On April 2, 2003, First Data and Concord announced that the two companies had entered into a definitive agreement to merge in an all-stock transaction valued at approximately $7 billion. For six months both companies worked cooperatively with the Department of Justice (DOJ) seeking clearance under the Hart-Scott-Rodino Antitrust Improvements Act. Notwithstanding these efforts, on October 23, 2003 the DOJ filed a civil antitrust lawsuit to block the proposed merger. Consummation of the merger remains subject to such litigation.

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Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce