Global Payments' shares fall after $22.7 bln deal to buy Worldpay

Shares of American payments technology company Global Payments GPN.N fall 16.6% to $70.16

GPN to buy payments processor Worldpay from private equity firm GTCR and Fidelity National Information Services FIS.N in $22.7 bln deal

Co to simultaneously sell its Issuer Solutions business to FIS for $13.5 bln

Separately, co expects Q1 adj EPS of $2.69 vs analysts' estimate of $2.72, according to data compiled by LSEG

Co reaffirms FY adjusted net revenue and adj EPS outlook

*"After several years of uninspiring merchant organic revenue growth and what we consider a lack of strategic cohesiveness, this transaction is a bold step for Global management — and long overdue," William Blair analyst Andrew Jeffrey said in a note.

FIS shares up 7.21%

As of last close, GPN stock had fallen 24.93% YTD