Sullivan & Cromwell Advises VeriFone In $817M Point Buy

Law360, New York (November 14, 2011, 12:24 PM EST) -- Electronic payment processing solutions provider VeriFone Inc. has agreed to purchase payments processor Point from Stockholm-based private equity firm Nordic Capital for more than $817.5 million, the company announced Monday.

VeriFone will also take on approximately $231.6 million in Point's debt as part of the deal, which the San Jose, Calif.-based company says will add between 8 and 10 cents per fully diluted share in fiscal year 2012 and between 30 and 35 cents in fiscal year 2013, based on nongenerally accepted accounting principals earnings....
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