Heartland Payment Shares Soar On $4.3 Bln Buyout By Global Payments

Shares of Heartland Payment Systems Inc. soared in Tuesday's extended session following an announcement that it will be bought by Global Payments Inc. at $100 a share for a total value of $4.3 billion. Global also reported its fiscal second-quarter operating earnings slipped to $123.2 million from $124 million a year earlier. On a per-share basis, the company earned 60 cents versus 55 cents a year ago. Revenue grew to $722.4 million from $697.3 million. Global also projected fiscal 2015 earnings per share of $2.06 on revenue of $2.77 billion. Shares of Global Payments fell 3.4% while Heartland shares jumped 12% in after-hours trading.

Copyright © 2015 MarketWatch, Inc.