Also covered are Citigroup’s Apple Card cold feet, a Chinese travel unicorn, and a big frozen food deal.
1. Incumbents dig in with mammoth $21.5B payments merger
Global Payments is set to acquire Total System Services, also known as TSYS, in a deal worth $21.5B. The companies stated that the new combined payments entity will serve 3.5M SMBs and 1,300 financial institutions across 100 countries.