Payments processor Worldpay in £9bn merger with US rival
UK payments processor Worldpay has reached a preliminary agreement to merge with US rival Vantiv in a deal valuing the British group at £9.1 billion.
Vantiv's offer will see it pay 385p a share for Worldpay, or £7.7bn, plus £1.4bn to cover debts. Its bid has muscled out rival suitor JPMorgan Chase, which confirmed it was withdrawing from the takeover tussle.
The tie-up will create a transatlantic payments processing giant with a combined market value of more than $20bn (£15.5bn). Under the proposed deal, FTSE 100 firm Worldpay would delist from the London stock market.