This record is drawn from an 8-K exhibit (Exhibit 99.1) that Global Payments filed with the SEC on August 1, 2022, containing the joint press release announcing the signed merger agreement. At the time of the filing the transaction was newly announced and pending EVO stockholder approval, regulatory clearance and other customary closing conditions, with closing expected no later than the first quarter of 2023.
On the financial advisory side, BofA Merrill Lynch and J.P. Morgan Securities LLC served as financial advisors to Global Payments and also provided committed financing for the acquisition. The release further states that "Goldman, Sachs & Co., Barclays, Evercore and Greenhill & Co, Inc. have also provided financial advice to Global Payments," placing Barclays among a syndicate of additional advisors to the acquirer rather than as lead advisor. On the target side, Citi served as financial advisor to EVO Payments.
Legal counsel was split along the same lines: Wachtell, Lipton, Rosen & Katz served as legal advisor to Global Payments, while King & Spalding LLP served as EVO's legal advisor.
The transaction also included a related financing component: Silver Lake agreed to make a 1.5 billion dollar strategic investment in Global Payments in the form of a convertible note, and Global Payments indicated it expected to enter into a call spread or other derivative transaction to raise the effective conversion premium on that note. Certain EVO stockholders affiliated with Madison Dearborn Partners, representing approximately 22 percent of EVO's voting power, agreed via voting agreements to support the transaction. The release cites expected run-rate synergies of 125 million dollars and anticipated first-year accretion to adjusted earnings per share after close. Not disclosed in this exhibit: the specific dollar fees or precise scope of Barclays' advisory mandate relative to the other named banks, the terms of the committed bank facility beyond its existence, and the actual closing date (only the expectation of closing by the first quarter of 2023 is given).