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BUSINESS
June 14, 1995 | From Associated Press
Two companies whose businesses silently touch millions of consumers a day agreed Tuesday to a $6.6-billion merger. Consumers will see no immediate impact from the merger of Atlanta-based First Financial Management Corp. and First Data Corp. of Hackensack, N.J., which authorize credit card payments and verify checks. But executives said the combined company would be in a better position to invest in new technology that could eventually speed up their clearance times.
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BUSINESS
July 8, 1992 | From Times Staff and Wire Reports
McDonnell Douglas Sells TeleCheck: The corporation further trimmed its non-aerospace business with the sale to First Financial Management Corp. of Atlanta. TeleCheck Service Inc., which provides check acceptance and guarantee services to retail merchants, is based in Denver and employs about 700 people. McDonnell Douglas is the nation's largest defense contractor and the world's third-largest aircraft maker. It announced last November, when it sold McDonnell Douglas Systems Integration Co.
BUSINESS
September 20, 1994 | From Reuters
First Financial Management Corp. won the bidding for money transfer company Western Union Corp. on Monday with a $1.153-billion offer, a Bankruptcy Court judge said at the end of an unusual open-court auction. Western Union, owned by New Valley Corp. of Upper Saddle River, N.J., is being sold to satisfy its creditors as part of New Valley's Chapter 11 bankruptcy filing. The bidding reached such high levels that New Valley's creditors should be repaid in full.
BUSINESS
June 14, 1995 | From Associated Press
Two companies whose businesses silently touch millions of consumers a day agreed Tuesday to a $6.6-billion merger. Consumers will see no immediate impact from the merger of Atlanta-based First Financial Management Corp. and First Data Corp. of Hackensack, N.J., which authorize credit card payments and verify checks. But executives said the combined company would be in a better position to invest in new technology that could eventually speed up their clearance times.
BUSINESS
September 20, 1994 | From Reuters
First Financial Management Corp. won the bidding for money transfer company Western Union Corp. on Monday with a $1.153-billion offer, a Bankruptcy Court judge said at the end of an unusual open-court auction. Western Union, owned by New Valley Corp. of Upper Saddle River, N.J., is being sold to satisfy its creditors as part of New Valley's Chapter 11 bankruptcy filing. The bidding reached such high levels that New Valley's creditors should be repaid in full.
BUSINESS
June 1, 1989
Atlanta-based Fuqua Industries on Wednesday completed its previously announced sale of Georgia Federal Bank to First Financial Management Corp. for $242 million. The savings bank sale cleared the way for La Jolla-based Triton Group, which holds 9.9% of Fuqua's common stock, to acquire more than 10% of Fuqua's outstanding shares. Federal regulators must approve stock sales that involve more than 10% of the outstanding shares of holding companies that own banks. Triton has agreed to acquire more Fuqua shares held by the family of Fuqua founder and Chairman J. B. Fuqua.
BUSINESS
November 30, 1995 | Times Staff and Wire Reports
PageNet Announces New President, CEO: On Dec. 1, Glenn W. Marschel will take over the dual posts for Paging Network Inc., the world's largest wireless messaging company. Marschel, 49, most recently served as vice chairman and chief operating officer for First Financial Management Corp.'s financial and health care businesses in Atlanta. He also spent 23 years with Automatic Data Processing in Roseland, N.J., and headed that company's employer services group as president.
BUSINESS
September 3, 1994 | From Reuters
A bidding war for Western Union Financial Services Inc. heated up Friday as rival suitors for the world's largest money-transfer business raised the stakes to nearly $1 billion. Buyout specialist Forstmann Little & Co. sweetened its offer to $970 million for Western Union, a financially ailing unit of New Valley Corp. New Valley has been in Chapter 11 bankruptcy protection since March, 1993. First Financial Management Corp.
BUSINESS
October 28, 1992 | CHRIS WOODYARD, TIMES STAFF WRITER
About 80 claims workers are being offered transfers to Salt Lake City in a consolidation of Alta Health Strategies Inc., a medical insurance claims processor that will close its Orange County claims office. Alta Health Strategies plans to move all of its claims services to its Salt Lake City headquarters to provide centralized control over the computerized system, officials said.
BUSINESS
July 8, 1992 | From Times Staff and Wire Reports
McDonnell Douglas Sells TeleCheck: The corporation further trimmed its non-aerospace business with the sale to First Financial Management Corp. of Atlanta. TeleCheck Service Inc., which provides check acceptance and guarantee services to retail merchants, is based in Denver and employs about 700 people. McDonnell Douglas is the nation's largest defense contractor and the world's third-largest aircraft maker. It announced last November, when it sold McDonnell Douglas Systems Integration Co.
BUSINESS
April 3, 2007 | From the Associated Press
Credit card transaction processor First Data Corp. said Monday that it was being acquired by an affiliate of private equity firm Kohlberg Kravis Roberts & Co. for about $27 billion in what would be among the richest private takeovers in the U.S. The proposed deal comes amid a flurry of activity by buyout groups to take public companies private. The First Data deal would rank behind a proposed $32-billion buyout of Texas utility company TXU Corp. by a group including KKR and Texas Pacific Group.
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