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4-Traders Homepage  >  Equities  >  Nyse  >  Vantiv Inc    VNTV

VANTIV INC (VNTV)
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Vantiv, Inc. Offer Update

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08/15/2017 | 07:46pm CEST

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RNS Number : 0945O

Vantiv, Inc.

15 August 2017

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR

FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE

RELEVANT LAWS OF SUCH JURISDICTION.

15 August 2017

VANTIV, INC.

COMPLETION OF FIFTH THIRD BANK TRANSACTION AND INTENTION TO VOTE IN FAVOUR OF SHARE ISSUANCE AND PUBLICATION OF LENDER PRESENTATION

Completion of Fifth Third Transaction

On 9 August 2017, Vantiv, Inc. ("Vantiv") and Fifth Third Bank ("Fifth Third"), a shareholder of Vantiv, completed a transaction pursuant to the terms of which Fifth Third exercised its right to exchange 19,790,000 Class B units in Vantiv Holding, LLC, a subsidiary of Vantiv, for 19,790,000 newly-issued shares of Vantiv's Class A common stock (whereupon 19,790,000 corresponding shares of Vantiv Class B common stock held by Fifth Third were automatically cancelled). Immediately thereafter, Vantiv purchased those newly-issued shares of Class A common stock directly from Fifth Third at a price of $64.04 per share, the closing share price of Vantiv's Class A common stock on the New York Stock Exchange on 4 August 2017 (the "Fifth Third Transaction").

Fifth Third Intention to Vote in Favour of Vantiv Share Issuance

In respect of the completion of the Fifth Third Transaction, Vantiv has filed a Form 8-K, and Fifth Third has filed a Schedule 13D, with the U.S. Securities and Exchange Commission. Vantiv is pleased to note that Fifth Third has stated in that Schedule 13D that it currently intends to vote all the shares of Vantiv Class B common stock that it holds at the relevant time in favour of the resolution to be proposed at the meeting of Vantiv's stockholders to approve the issuance of stock to Worldpay ordinary shareholders in connection with Vantiv's offer for Worldpay. As of 15 August 2017, Fifth Third holds 15,252,826 shares of Vantiv Class B common stock.

Publication of Lender Presentation

In connection with the proposed amendments to Vantiv's existing credit facilities, today Vantiv has published a lender presentation which has been uploaded to Vantiv's website at http://info.vantiv.com/vantiv-worldpay-announce-recommended-merger.html.

Enquiries

 
 Vantiv 
 
  Nathan Rozof, Investor Relations 
  Andrew Ciafardini, Corporate          +1 513 900 4811 
  Communications                        +1 513 900 5308 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

OUPLLFFDTTIELID

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Financials ($)
Sales 2017 2 116 M
EBIT 2017 894 M
Net income 2017 273 M
Debt 2017 4 058 M
Yield 2017 -
P/E ratio 2017 45,14
P/E ratio 2018 32,41
EV / Sales 2017 7,75x
EV / Sales 2018 6,05x
Capitalization 12 334 M
Chart VANTIV INC
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Technical analysis trends VANTIV INC
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 27
Average target price 77,7 $
Spread / Average Target 12%
EPS Revisions
Managers
NameTitle
Charles D. Drucker President, Chief Executive Officer & Director
Jeff E. Stiefler Chairman
Mark L. Heimbouch Chief Operating Officer & Director
Stephanie Ferris Chief Financial Officer
Richard Robert Bartlett Chief Information Officer
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