• Companies in sectors like aerospace & defense are particularly interested in carve-outs
• Global Payments announced USD 13.5bn carve-out and disposal in April
• Carve-out deals are in focus in the US as corporates grapple with the implications of tariffs

Companies in sectors like aerospace and defense are particularly keen on selling business units as a way of redesigning supply chains to adjust to uncertain global trade policies.

Although fewer deals are coming to market, the market is also seeing larger ticket sizes as companies take bold portfolio decisions. An example of a large deal comes from the payments segment of the fintech market: Global Payments in April announced an agreement to sell its Issuer Solutions business to Fidelity National Information Services (FIS) for USD 13.5bn.

In parallel, Global Payments also announced an agreement to acquire Worldpay from GTCR and FIS for a net purchase price of USD 24.25bn.

Rachel Stone, Mergermarket’s Charlottesville bureau chief, joins Dealcast host Julie-Anna Needham to discuss why the payments segment is still attractive for buyers, despite global trade tensions.

• What is the mood like on the buyside?
• What are the implications of trade uncertainties for due diligence processes?
• Why is Stanley Black & Decker a name to watch in the months ahead?

All this and more in this week’s Dealcast.

by Avery Koop and Rachel Stone