CNBC

Payment
technology company Global Payments is nearing an agreement to acquire
peer Total System Services for about $20 billion, in an all-stock
deal that is expected to be announced Tuesday, people familiar with the matter
tell CNBC.

The
people requested anonymity because the talks are confidential.

Total
System’s stock skyrocketed after the CNBC report. In early afternoon, it was up
nearly 14%; Global Payments stock gained 3.4%.

Source