Business

TSYS stock falls another $1.26 per share, has lost $8.04 over two days

BY TONY ADAMS

tadams@ledger-enquirer.com

It was another tough day on the New York Stock Exchange for global credit-card and payments processor TSYS on Thursday.

The company, headquartered in Columbus, saw its shares drop an additional $1.26, or 3.2 percent, closing at $37.96 apiece.

That brings the two-day loss for the firm’s stock to $8.04 per share, or nearly 17.5 percent, from its close of $46 per share on Tuesday, the day it released its fourth-quarter and 2015 earnings report.

It also announced Tuesday the $2.35 billion purchase of merchant acquirer and servicing firm TransFirst, a deal that is expected to be completed before mid-year. TSYS is lining up a $2 billion bridge loan to finance the transaction, which will be the largest in its 33-year history.

The Columbus company’s stock is now just over $3 off its 52-week trading low of $34.93 per share. The high for the past 12 months is $56.69 per share.

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