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Bids, Mergers and Takeovers

Worldpay agrees £9.3bn merger with Vantiv

09 August 2017 07:50

Payment processing company Worldpay (WPG) has agreed to a £9.3 billion merger with rival organisation Vantiv.

Worldpay shareholders will receive 55p in cash and a dividend of 5p per share.

The terms of the merger value each Worldpay share at 397p and Worldpay's entire issued and to be issued ordinary share capital at approximately £8 billion.

It represents a premium of approximately 22.7% to the closing price per Worldpay share of 320p on 3 July - the last business day before the commencement of the offer period.

The terms of the merger imply an enterprise value of Worldpay of approximately £9.3 billion.

The combined company will have a pro forma enterprise value of approximately £22.2 billion.

Vantiv will seek a secondary standard listing on the Main Market of the London Stock Exchange.

The companies said the combined organisation will be a leading global omni-commerce payments provider and its enhanced capabilities will position it to better and more quickly address merchants' evolving needs and to realise improved commercial outcomes for its clients.

Story provided by StockMarketWire.com

Related Company: WPG

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