Worldpay to merge with Vantiv in £9bn deal
Vantiv has offered 385p a share for Worldpay including a 5p dividend, or £7.7bn, plus £1.4bn to cover debts.
The offer is approximately 18.9% to the closing Worldpay Share price on 3 July, the day before bid interest was confirmed.
In a joint statement, the two companies said there had been an”agreement in principle” on the deal. Rival suitor JP Morgan Chase has withdrawn its interest.
Worldpay shareholders will own about 41% of the combined enlarged group.
Vantiv is largely focused on the US, helping merchants, banks and credit unions accept card payments, as well as gift cards and online payments.
The combined group will be led by Charles Drucker as executive chairman and co-CEO and Philip Jansen as co-CEO, with Stephanie Ferris as CFO.
It will operate between London and Vantiv’s base in Cincinnati.
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