First Data Says ‘I Do’ to KKR

DENVER – Payments processor/EFT network First Data Corp. said yesterday it did not receive any other acquisition offers during its ‘Go Shop’ period and will be wed to private equity giant Kohlberg Kravis Roberts & Co. Under the ‘Go Shop’ clause of April’s $34-a-share, $29 billion deal, First Data had 50 days to actively solicit other offers but none materialized, the company said yesterday. KKR, made famous by the story of its then-record $25 billion takeover of RJR Nabisco as ‘Barbarians at the Gate,’ has embarked on a frenzied takeover spree that has included more than $100 billion worth of deals in the past three months.

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