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Global Payments to buy peer Total System for $21.5 bln in stock

May 28 (Reuters) - Payment technology company Global Payments Inc said on Tuesday it would buy peer Total System Services Inc for about $21.5 billion in an all-stock deal.

The $119.86 per share value represents a premium of 20.3% to Total System's Thursday close, when reports of a possible deal first emerged.

The acquisition is expected to close in the fourth quarter of 2019, the company said. (Reporting by Arjun Panchadar in Bengaluru; Editing by Anil D'Silva)