: FIS stock gets a boost amid report of private-equity interest in Worldpay
Shares of Fidelity National Information Services Inc. FIS were popping 6% in Monday’s premarket trading after a Financial Times report from Friday cited private-equity interest in buying a possible majority stake in the company’s Worldpay business. The FT report said that private-equity groups were considering a bid at a valuation upwards of $15 billion. FIS previously announced plans to spin off its merchant business, which largely consists of Worldpay, into a separate business, a move that would walk back the company’s merger with Worldpay that was announced in early 2019. FIS didn’t immediately respond to a MarketWatch request for comment. Jefferies analyst Trevor Williams wrote that while the $15 billion headline valuation “implies modest dilution, we would view such an outcome as a clear positive with our belief that RemainCo would trade at a higher multiple than FIS’ current consolidated [valuation].”
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