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First Data/ Concord Merger Vote Date Set

DENVER - First Data Corporation has set October 28 for the date that its shareholders of record as of September 8 2003 will vote on its pending merger with Concord EFS, based in Memphis Tennessee. First Data is the majority owner of the NYCE network. Concord EFS owns the Star...

By Staff Writer | Updated on September 30, 2003

DENVER – First Data Corporation has set October 28 for the date that its shareholders of record as of September 8 2003 will vote on its pending merger with Concord EFS, based in Memphis Tennessee. First Data is the majority owner of the NYCE network. Concord EFS owns the Star network. A merger between the two firms would give the resulting firm roughly 75% of the US market for debit card transactions in which cardholders use a personal identification number to validate the transactions. Federal anti-trust regulators have yet to formally sign off on the potential merger.

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