Deal to buy bill processor at risk
- Share via
Blackstone Group’s $6.6-billion leveraged buyout of credit card payments processor Alliance Data Systems Corp. may collapse because bank regulators have placed what Blackstone called “unacceptable” requirements on the acquisition.
Alliance Data’s shares plunged 35% after Blackstone said conditions requested by the Office of the Comptroller of the Currency would impose “unlimited and indefinite” liability on the firm. It would try to keep the deal alive, the New York-based company said.
Dallas-based Alliance Data owns World Financial Network National Bank, a credit card issuer.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
