Kirkland & Ellis advised New Omaha Holdings L.P., an affiliate of Kohlberg Kravis & Roberts Co. L.P., in the merger of Fiserv (NASDAQ: FISV) and First Data Corporation (NYSE: FDC), which today announced that their boards of directors have unanimously approved a definitive merger agreement under which Fiserv will acquire First Data in an all-stock transaction with an equity value of $22 billion.
New Omaha controls approximately 39 percent of the outstanding First Data common stock and 86 percent of the voting rights of First Data. Upon closing, New Omaha Holdings will own approximately 16 percent of the outstanding common stock of the combined company. The transaction unites two premier companies to create one of the world’s leading payments and financial technology providers.
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The Kirkland team included transactional partners Sean Rodgers, Ravi Agarwal and Benjamin Leyendecker, and capital markets partners Joshua Korff and Ross Leff.