Payment technology companies Global Payments and Total System Services have agreed on a stock merger of equals, sources told CNBC’s David Faber.
An announcement could come as soon as Tuesday morning U.S. time, according to a tweet by Faber.
Jeffrey Sloan, the chief executive of Global Payments, will run the combined company worth roughly $40 billion, according to the sources. Shareholders of Total System Services will receive 48% of the merged firm, they said.
CNBC reported last week that the Global Payments was nearing a deal to acquire Total System Services for about $20 billion.
— This is breaking news. Please check back for updates.