Worldpay and Vantiv agree on merger

Worldpay and Vantiv agree on merger

Worldpay and Vantiv said they have agreed to go ahead with their proposed merger.

Worldpay said in an email statement that:

The boards of directors of Vantiv and Worldpay are pleased to announce that they have reached agreement on the terms of a recommended merger of Worldpay with Vantiv and Vantiv UK Limited (a subsidiary of Vantiv) (“Bidco”) in the form of a recommended offer for the entire issued and to be issued ordinary share capital of Worldpay by Vantiv and Bidco (the “Merger”).

The Merger is to be effected by means of a court-sanctioned scheme of arrangement under Part 26 of the Companies Act (the “Scheme”). Under the terms of the Merger, Worldpay Shareholders will be entitled to receive:for each Worldpay Share held 55 pence in cash and 0.0672 of a New Vantiv Share.