Shares of Fidelity National Information Services (FIS) - Get Fidelity National Information Services, Inc. Report were rising nearly 2% Monday to $125.03 as the European Commission, the regulatory arm of the European Union, prepares to grant the financial services company regulatory approval for its $35 billion purchase of payments company Worldpay (WP) - Get Worldpay, Inc. Class A Report , Reuters reported.
The European Commission isn't expected to make their decision official, or public, until July 5. Fidelity National announced the bid in March.
A merger between the two companies would be the largest in the payments industry, which has experienced a boon in recent years as more people turn to the digital economy for online purchases.
Global digital payments are expected to top $3 trillion after topping out at about $137 billion in 2017, according to research company The Business.
The combined company is expected to have about $12.3 billion in annual revenue with Fidelity National shareholders owning about 53% of the combined company that will be valued at about $43 billion.