Alliance Data Systems (ADS) added a director from activist fund ValueAct Capital. The company has three units, including one that makes branded credit cards for Victoria's Secret and other companies. ValueAct's track record suggests an Alliance Data break up or sale could come next.

Potential buyers of the ADS branded cards unit include Wells Fargo (WFC) and American Express (AXP) . However, Alphabet (GOOGL) , Facebook (FB) or PayPay (PYPL) could make a play as well.

Read More: Alliance Data/ValueAct Deal Could Signal Split

This article was written by a staff member of TheStreet.

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