Global Payments and Total System Services agree to multibillion-dollar merger: Sources

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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.

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