Shareholders of

Concord EFS

(CE) - Get Report

hope to find value in an acquisition that they've long argued should be theirs in the stock market.

Published reports Tuesday said the company is in advanced discussions to be acquired by

First Data

(FDC) - Get Report

for stock worth about $15 a share -- a 60% premium over shares that have been beaten down for the last year.

The two sides have reportedly discussed a transaction for five years. Concord EFS primarily provides bank-card payment technology, while First Data owns Western Union and provides numerous back-office financial services. According to reports, they were near a deal several weeks ago, backed away, then resumed negotiations in recent days.

Concord's shares are up about 24% to $11.65 in the Instinet premarket. They traded in the mid-30s this time last year but has steadily eroded as firestorms of debate blew up about the stability of its contracts with various big banks.