Bullish’s $4.2 Billion Equiniti Deal Tests Wall Street’s Tokenized Stock Push
Bullish will acquire Equiniti from Siris Capital in a $4.2 billion stock-and-debt deal, adding a regulated shareholder-records business to its portfolio. The transaction includes $1.85 billion in assumed debt and $2.35 billion in Bullish stock priced at $38.48 per share. Bullish shares fell as much as 8.7% in premarket trading following the announcement. Equiniti serves over 20 million shareholders and processes $500 billion in annual payments.