DENVER and MEMPHIS,Tenn., Oct. 28 /PRNewswire-FirstCall/ -- First Data
(NYSE: FDC) and Concord EFS, Inc. (NYSE: CE) announced today that reports are
not correct that a federal judge has set a January 5, 2004 hearing date on the
Justice Department's request for a preliminary injunction regarding the
proposed merger of the two companies.
Both the Justice Department and the companies have suggested dates for
various steps in the litigation; however, as of today, no scheduling order has
been entered by the judge. A hearing on the matter will be held this
afternoon. Some time following the hearing, the judge is expected to set a
schedule for the case.
About First Data
First Data Corp. (NYSE: FDC), with global headquarters in Denver, helps
power the global economy. As an electronic commerce and payment services
company, 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
approximately 169,000 Agent locations in more than 195 countries and
territories. For more information, please visit http://www.firstdata.com .
About Concord EFS, Inc.
Concord EFS, Inc., a vertically integrated 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. 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
STAR(SM) 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. For
more information, visit us at http://www.concordefs.com .
Not a Proxy Solicitation
This communication is not a solicitation of a proxy from any security
holder of First Data Corporation or Concord EFS, Inc. First Data and Concord
have filed with the Securities and Exchange Commission (SEC) a joint proxy
statement/prospectus concerning the planned merger of Concord with a
subsidiary of First Data. WE URGE INVESTORS TO READ 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 its management and employees, may be deemed to
be participants in the solicitation of proxies from the stockholders of First
Data 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 EFS, Inc. and their ownership of Concord EFS, Inc. stock is set forth
in the proxy statement for Concord EFS, Inc.'s 2003 annual meeting of
stockholders. Bond Isaacson, who became Co-Chief Executive Officer of Concord
in 2002, holds approximately 400,000 Concord stock options. Employment and
compensation agreements of certain potential participants, including change of
control arrangements, are filed as exhibits to the Concord Form 10-K filed
March 27, 2003. Executive officers of Concord may participate in a retention
bonus program that would pay bonuses in connection with the merger. Investors
may obtain additional information regarding the interests of the participants
by reading the joint proxy statement/prospectus.
FDC-1
SOURCE First Data
 back to top
Related links:
http://www.concordefs.com
http://www.firstdata.com
CONTACT:
Staci Busby, +1-303-967-7188, or David Banks,
+1-303-967-8057, both of First Data
|
