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Vantiv, Worldpay Agree on Key Points of Potential Merger

Vantiv, Worldpay Agree on Key Points of Potential Merger

United States payment processing giant Vantiv has agreed to merge with its British rival Worldpay in a deal valuing the company at about £9.1bn.

Shares in Worldpay dipped after Vantiv beat JP Morgan to the chase in an official takeover bid of £7.7bn for the FTSE 100 payments firm.

The deal values Worldpay shares at £3.80 each plus a 5p dividend, a 20.7 per cent premium above their closing price on 29 June.

Total digital payment transactions outside of conventional providers such as banks stands to be worth roughly $740 billion this year, Odeluga noted, citing research by German market research provider Statistia.

It will be led by Charles Drucker (currently president and CEO of Vantiv) as executive chairman and co-CEO, Philip Jansen (current CEO of Worldpay) as co-CEO, and Stephanie Ferris as CFO (Vantiv's CFO at present). Under UK rules, the two potential bidders have until August 1 to announce a firm intention to make an offer.

Worldpay now processes around 31m mobile, online and in-store transactions every day, and is a major competitor against the likes of Square, Stripe and PayPal. BNP Paribas reiterated an "outperform" rating and set a GBX 340 ($4.40) target price on shares of Worldpay Group PLC in a research report on Wednesday, March 8th.

Federal Bureau of Investigation arrest suspect in case of missing Chinese scholar
The FBI, while monitoring Christensen, hears him "explaining how he kidnapped" Zhang , according to the affidavit. Christensen's first court appearance will be on Monday, July 3, in a federal court in Urbana, Illinois.

Isaiah Thomas Bickers With Lance Stephenson On Instagram Over Paul George
The Boston Celtics have been very patient over the last couple of years, being very cautious of not overpaying for assets. The Pacers will need to come down from that ridiculous asking price, or they will most likely lose George for nothing.

Trump calls decision national security victory
His administration has made an emergency request asking for the ban to go into effect while the litigation continues. President Reagan's original choice to take Powell's place was conservative federal appeals court judge Robert Bork.

Both companies said there was compelling reasons for the merger, with the enlarged group having strong positions in four core regions of the US, Europe, Asia-Pacific and South America.

Several other equities research analysts also recently commented on WPG. VNTV, -1.31%, a rival in the US, and J.P. Morgan Chase & Co.

Vantiv's acquisition of Worldpay "fits in very nicely against this backdrop" said Beck, who outlined the logic of the deal in a February note.

It provides payment services for point of sale transactions, and internet and mail order retailers. It was sold to RBS in 2002, and later to private equity firms Bain Capital and Advent International.

Over the weekend, Nets, the Danish payments services company, said it had been approached by potential suitors.

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