Report: FIS Shares Up 2% on Talk of Potential Takeover 

FIS has reportedly heard from an interested potential buyer. 

Seeking Alpha reported Thursday (Jan. 19), citing an unnamed source, that an unknown potential buyer is considering acquiring all or some of the company. 

The financial services technology firms’ stock is up about 2% Thursday, driven by speculation about such interest in an acquisition, according to the report. 

A spokesman for FIS, responding to PYMNTS’ request for information, declined to comment. “We do not comment on market rumors or speculation,” he said. 

The report comes about a month after FIS opened a strategic review and accelerated a previously announced CEO transition. 

On Dec. 15, FIS said that, effective Dec. 16, Jeffrey A. Goldstein had been appointed independent chairman of the board of directors, President Stephanie L. Ferris would become CEO, and then-CEO and Chairman of the Board Gary A. Norcross would depart from the company and the board. 

As PYMNTS reported at the time, the moves accelerated some previously announced leadership changes. On Oct. 18, FIS said Ferris had been appointed president and CEO effective Jan. 1, while Norcross was to become executive chairman of the board at that time. 

In addition to making these changes, FIS said Dec. 15 that it would transition to an independent board chair structure. 

On the same day, the firm said that Ferris and the board had launched a “comprehensive assessment” of FIS’ strategy, businesses, operations and structure, aiming to improve results, shareholder value and client services. 

“We are taking a hard look at every aspect of our company to define areas for change and develop specific action and improvement plans,” Ferris said in a Dec. 15 press release. 

The report from Seeking Alpha comes at a time when there has been a record drop in global merger and acquisition (M&A) activity. 

The value of global M&A deal-making fell from $2.2 trillion in the first half of 2022 to $1.4 trillion in the second half, the Financial Times reported Dec. 29, citing figures from data provider Refinitiv. 

The volume of M&A activity was down, too. The number of deals completed around the world in 2022 was 36% lower than it was in 2021. 

The report attributed the steep drop in M&A activity to global markets’ lower confidence and the higher cost of financing.