Tags: APFN | EU | Britain | Worldpay | Vantiv

UK Payment Processing Firm Close to Takeover by US Rival

Wednesday, 05 July 2017 09:38 AM

LONDON (AP) — Britain's largest payment processing company has agreed to get taken over by U.S. rival Vantiv.

Worldpay, which allows businesses to accept credit cards and online payments, released a statement Wednesday saying the companies "reached an agreement in principle on the key terms of a potential merger" though no official offer has been made.

The announcement follows Worldpay's confirmation Tuesday that it was in takeover talks with both Cleveland-based Vantiv and JP Morgan, news that boosted their stock 28 percent.

The stock fell about 8 percent on Wednesday to 3.73 pounds ($4.82) per share.

Under the terms of the potential merger, Worldpay shareholders would receive a total value of 3.85 pounds per share.

The boards of Vantiv and Worldpay said they see "compelling strategic, commercial and financial rational" for merging.

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Britain's largest payment processing company has agreed to get taken over by U.S. rival Vantiv.Worldpay, which allows businesses to accept credit cards and online payments, released a statement Wednesday saying the companies "reached an agreement in principle on the key...
APFN,EU,Britain,Worldpay,Vantiv
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2017-38-05
Wednesday, 05 July 2017 09:38 AM
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