First Data: Go-shop period ends with no proposals in merger deal with Kohlberg Kravis Roberts affiliate

By Lisa Kerner

Charlotte, N.C., May 22 - First Data Corp. said it did not receive any takeover proposals, definitive or otherwise, by the May 22 deadline under its April 1 merger agreement with an affiliate of Kohlberg Kravis Roberts & Co. Therefore, there are no excluded parties under the agreement, according to a form 8-K filing with the Securities and Exchange Commission.

Under the agreement, First Data could solicit proposals for 50 days.

The Kohlberg Kravis Roberts affiliate will acquire First Data for $34 per share in a transaction valued at about $29 billion and expected to close in the third quarter of 2007.

Denver-based First Data provides electronic commerce and payment solutions.

Kohlberg Kravis Roberts, a private equity firm specializing in management buyouts, has offices in New York, Menlo Park, Calif., London, Paris, Hong Kong and Tokyo.

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