Global Payments nearly $20 billion deal to buy Total System

(Reuters) - Payment technology company Global Payments Inc is nearing a deal to acquire peer Total System Services Inc for about $20 billion in an all-stock deal, CNBC reported on Friday, citing people familiar with the matter.

Bloomberg had first reported about a possible tie-up on Thursday.

Bank of America is advising Global Payments on the deal and will also lead refinancing of the combined company, CNBC said, adding that the deal could be announced on Tuesday.

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Global Payments and Total System did not immediately respond to requests for comments.

Reporting by Aparajita Saxena and Rishika Chatterjee in Bengaluru; editing by Gopakumar Warrier and Anil D'Silva

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