Worldpay: agreement in principle on merger with Vantiv.
(CercleFinance.com) - British payment processor Worldpay and its US competitor Vantiv have just announced that they have reached an agreement in principle on the key terms of a potential merger.
Under the terms of the potential merger, Worldpay shareholders would receive 0.55 pound in cash and 0.0672 new Vantiv shares for each ordinary share.
These terms represent a premium of approximately 18.9% relative to Worldpay share's closing price on 3 July, the day before the company confirmed that it had received preliminary approaches from Vantiv and JPMorgan in relation to a potential acquisition.
In a joint press release, Worldpay and Vantiv say they see compelling strategic, commercial and financial rationale for combining their complementary businesses in the UK and US markets.
After the merger's completion, the companies said that Worldpay shares will be delisted from the London Stock Exchange.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
Under the terms of the potential merger, Worldpay shareholders would receive 0.55 pound in cash and 0.0672 new Vantiv shares for each ordinary share.
These terms represent a premium of approximately 18.9% relative to Worldpay share's closing price on 3 July, the day before the company confirmed that it had received preliminary approaches from Vantiv and JPMorgan in relation to a potential acquisition.
In a joint press release, Worldpay and Vantiv say they see compelling strategic, commercial and financial rationale for combining their complementary businesses in the UK and US markets.
After the merger's completion, the companies said that Worldpay shares will be delisted from the London Stock Exchange.
Copyright (c) 2017 CercleFinance.com. All rights reserved.