Global Payments Inc. and Total System Services Inc. issued supplemental disclosures related to their pending merger to avoid the risk of lawsuits delaying or otherwise adversely affecting the deal.
Six lawsuits challenging the merger have been filed following the announcement of the deal, the companies said in separate regulatory filings. The complaints assert, among other matters, claims for filing a materially incomplete registration statement with the SEC.
The companies believe that the claims asserted in the lawsuits are meritless. They also said the supplemental disclosures will not affect the merger consideration to be received by Total System Services shareholders in connection with the merger.
