KKR Buying First Data for $29B

KKR is buying First Data Corp for $34 per share, or a 26% premium to the closing price on Friday. Monday’s deal was unanimously approved by First Data’s board of directors but the company will entertain other bids for the next 50 days. The company said it “intends to actively solicit proposals during this period.”

The Hedge Fund Consensus strategy and the Best Ideas strategy both held positions in FDC. Individual funds that held positions in FDC as of the February reporting period were Okumus(in its top 2 holdings), Maverick, and Greenlight. Third Point and Jana held positions in the stock but have since sold out.