Clayton, Dubilier & Rice (CD&R) and GTCR have abandoned discussions to acquire US payments processor Global Payments, after exploring a potential take-private transaction over recent weeks, according to a report by Reuters.

The firms reportedly suspended their pursuit following difficulties associated with structuring and financing a transaction of this scale. Global Payments, which has a market capitalisation of approximately $26.4bn, would have represented one of the largest leveraged buyouts of 2026.

The decision comes amid continued challenges in financing large private equity acquisitions, with elevated borrowing costs, market volatility and increased lender scrutiny constraining dealmaking. However, the firms could revisit discussions at a later stage, while other potential acquirers may also emerge.

Global Payments has been restructuring its operations to focus on merchant services. In April 2025, the company agreed to acquire Worldpay from FIS and GTCR in a transaction valued at more than $24bn, alongside the sale of its issuer-solutions division to FIS. The abandoned buyout discussions follow the withdrawal of a separate bid for PayPal by Stripe and Advent International earlier this year, which reportedly valued the business at more than $53bn.