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

By Sue ChangMarketWatch Pulse

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.

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