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First Data FDC (news,
chart,
quote) - FDC volatility increases as KKR seeks to raise billions to fund FDC buyout
FDC, the world's largest processor of credit-card payments, announced on 4/2/07 it would be purchased by Kohlberg Kravis Roberts & Co (KKR) for $29 billion. FDC shareholders will receive $34 in cash for each share. FDC closed at $32.90. KKR is expected to raise $24 billion in September to finance the FDC buyout. FDC over all option implied volatility of 17 is above its 16-week average of 15 according to Track Data, suggesting slightly larger risk.
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