CD&R and GTCR reportedly team up on ~$40B buyout of Global Payments

Clayton, Dubilier & Rice and GTCR are discussing a joint bid for Global Payments valued around $40 billion including debt, the Financial Times reported. GTCR is already Global Payments' largest shareholder. Talks are ongoing and may not produce a deal, and no per-share price has emerged. Shares jumped about 11% on the report.

Why it matters: It would rank among the largest private-equity take-privates in payments, with the target's biggest holder on the buying side.