DENVER and MEMPHIS, Tenn., June 13 /PRNewswire-FirstCall/ -- First Data
Corp. (NYSE: FDC), and Concord EFS, Inc. (NYSE: CE), today announced that they
have received a request for additional information from the U.S. Department of
Justice (DOJ) pertaining to First Data's pending merger with Concord EFS.
The companies intend to work with the DOJ and respond promptly to the
request for additional information. The formal request for additional,
specific information supplements information already provided in the original
Hart-Scott-Rodino filing and in subsequent discussions with the DOJ during the
past two months.
A "second request" extends the waiting period under the Hart-Scott-Rodino
Antitrust Improvements Act of 1976 (HSR) during which the DOJ is permitted to
review a proposed transaction. Subject to completion of the HSR clearance
process, and satisfaction of other closing conditions contained in the merger
agreement, the companies anticipate that the acquisition will close in the
second half of 2003, as announced previously.
About First Data
First Data Corp. (NYSE: FDC), with global headquarters in Denver, helps
power the global economy. As a leader in electronic commerce and payment
services, First Data serves approximately 3 million merchant locations,
1,400 card issuers and millions of consumers, making it easy, fast and secure
for people and businesses to buy goods and services using virtually any form
of payment. With 29,000 employees worldwide, the company provides credit,
debit, smart card and stored-value card issuing and merchant transaction
processing services; Internet commerce solutions; money transfer services;
money orders; and check processing and verification services throughout the
United States. First Data also offers a variety of payment services in the
United Kingdom, Australia, Canada, Japan, Mexico, Spain, the Netherlands, the
Middle East and Germany. Its Western Union and Orlandi Valuta money transfer
networks include a total of approximately 159,000 Agent locations in more than
195 countries and territories.
About Concord
Concord EFS, Inc., a leading electronic transaction processor, provides
the technology and network systems that make payments and other financial
transactions faster, more efficient, and more secure than paper-based
alternatives. As a vertically integrated service provider, Concord acquires,
routes, authorizes, captures, and settles virtually all types of electronic
payment and deposit access transactions for financial institutions and
merchants nationwide. Concord's primary activities include Network Services,
which provides automated teller machine (ATM) processing, debit card
processing, deposit risk management, and STARsm network access principally for
financial institutions; and Payment Services, which provides point of sale
processing, settlement, and related services, with specialized systems
focusing on supermarkets, major retailers, gas stations, convenience stores,
restaurants, and trucking companies.
This communication is not a solicitation of a proxy from any security
holder of First Data Corporation or Concord EFS, Inc. First Data has filed
with the Securities and Exchange Commission (SEC) a preliminary joint proxy
statement/prospectus concerning the planned merger of Concord with a
subsidiary of First Data. This document is not yet final and will be amended.
WE URGE INVESTORS TO READ THE DEFINITIVE VERSION OF THE JOINT PROXY
STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS TO BE FILED WITH THE
SEC, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Investors will be able
to obtain the documents free of charge at the SEC's website, http://www.sec.gov. In
addition, documents filed with the SEC by First Data will be available free of
charge from First Data Investor Relations, 6200 S. Quebec St., Suite 340,
Greenwood Village, CO 80111. Documents filed with the SEC by Concord will be
available free of charge from Concord Investor Relations, 2525 Horizon Lake
Drive, Suite 120, Memphis, TN 38133.
First Data and Concord, and their respective directors and executive
officers and other members of their management and employees, may be deemed to
be participants in the solicitation of proxies from the stockholders of First
Data and Concord, respectively, in connection with the planned merger.
Information about the directors and executive officers of First Data and their
ownership of First Data stock is set forth in the proxy statement for First
Data's 2003 annual meeting of stockholders. Information about the directors
and executive officers of Concord and their ownership of Concord stock is set
forth in the proxy statement for Concord's 2003 annual meeting of
stockholders. Investors may obtain additional information regarding the
interests of the participants by reading the preliminary joint proxy
statement/prospectus and by reading the definitive joint proxy
statement/prospectus when it becomes available.
Notice to Investors, Prospective Investors and the Investment Community
Cautionary Information Regarding Forward-Looking Statements
Statements in this communication regarding the proposed merger of First
Data Corporation and Concord EFS, Inc., which are not historical facts,
including expectations of when the transaction may close, are "forward-looking
statements." All forward-looking statements are inherently uncertain as they
are based on various expectations and assumptions concerning future events and
they are subject to numerous known and unknown risks and uncertainties, which
could cause actual events or results to differ materially from those
projected. Investors are cautioned not to place undue reliance on these
forward-looking statements and any such forward-looking statements are
qualified in their entirety by reference to the following cautionary
statements.
Important factors upon which the forward-looking statements presented in
this communication are premised include: (a) receipt of regulatory and
shareholder approvals without unexpected delays or conditions; (b) timely
implementation and execution of merger integration plans; (c) no unanticipated
changes in laws, regulations, credit card association rules or other industry
standards affecting First Data's or Concord's businesses which require
significant product redevelopment efforts, reduce the market for or value of
its products or render products obsolete; (d) no unanticipated developments
relating to previously disclosed lawsuits or similar matters; (e) no
catastrophic events that could impact First Data's or Concord's or their
respective major customer's operating facilities, communication systems and
technology or that has a material negative impact on current economic
conditions or levels of consumer spending; (f) no material breach of security
of any of First Data's or Concord's systems; (g) successfully managing the
potential both for patent protection and patent liability in the context of
rapidly developing legal framework for expansive software patent protection;
and (h) other risks and uncertainties described from time to time in First
Data's and Concord's public filings with United States Securities and Exchange
Commission. Neither First Data nor Concord undertakes any obligation to
publicly update or revise any forward-looking statements to reflect changed
assumptions, the occurrence of anticipated or unanticipated events, or changes
to future results over time.
SOURCE First Data Corp.; Concord EFS, Inc.
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Related links:
http://www.firstdata.com
CONTACT:
investors, David Banks of First Data,
+1-303-967-8057; or Ed Winnick of Concord, +1-302-791-8484; or
media, Greg Rossiter of First Data, +1-303-967-6275; or Melinda
Mercurio of Concord, +1-302-791-8109
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