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VANTIV INC
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End-of-day quote. End-of-day quote  - 01/17
77.89 USD   -0.47%
01/17 VANTIV : Form 8.3 - Worldpay Group PLC
01/16 VANTIV : officially completes Worldpay acquisition
01/16 VANTIV : Scheme becomes effective
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Vantiv Offers Deal for Worldpay Valued at $10 Billion -- 3rd Update

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07/05/2017 | 06:54pm CET
By Ben Dummett and Max Colchester 

Vantiv Inc., a major U.S. credit-card processor, has made an offer valuing U.K. payments group Worldpay Group PLC. at $10 billon, warding off a potential rival bid from global banking giant J.P. Morgan Chase & Co.

Worldpay and Vantiv said in a joint statement Wednesday that they had agreed to a deal in principle. J.P. Morgan, which had been looking at Worldpay, said it was "at a very early stage in considering" a bid following an invitation from the U.K. firm but decided against the move without providing a reason.

The proposed Vantiv-Worldpay combination, if successful, would create a trans-Atlantic payments processing giant with a combined market value of more than $20 billion. Vantiv has until Aug. 1 to make a firm offer.

Payments businesses are under pressure to join forces in part to cut costs as greater regulatory scrutiny and rising competition from technology startups squeeze the fees of incumbents. Worldpay rival Nets AS said last week it had been approached by suitors. In April, Mastercard Inc. received regulatory approval to acquire payment-technology firm VocaLink Holdings Ltd. for about $920 million.

Ohio-based Vantiv helps merchants, banks and credit unions accept credit- and debit-card payments, as well as gift cards and online payments mainly in the U.S. By acquiring Worldpay, Vantiv would bolster its U.S. position and gain access to the U.K., markets where Worldpay processes millions of payments daily in stores, online and on mobile phones.

Vantiv and Worldpay said they have identified "substantial" opportunities for cost reductions, without disclosing how much or where they are. They added that their talks remain ongoing, and cautioned that there was no certainty any deal will be reached.

Vantiv is offering a share and cash deal that would value Worldpay at about 19% above its closing share price before Worldpay said Tuesday that it had received preliminary approaches from Vantiv and J.P. Morgan. In London trading Wednesday, Worldpay was down 8.6% at GBP3.73 ($4.83) after the stock had previously shot above the ultimate offer price.

Under the terms of the possible deal, accepting Worldpay shareholders would get 55 pence in cash and 0.0672 of a Vantiv share for each share held -- giving them 41% of the combined group. Shareholders would also receive a cash dividend of 5 pence a share giving an overall value of GBP3.85 for each share held.

The combined group would be led by Vantiv's chief executive officer, Charles Drucker, as executive chairman and co-chief executive. Worldpay CEO Philip Jansen would be co-chief, the companies said. Vantiv Chief Financial Officer Stephanie Ferris would retain the same role.

Emily Glazer contributed to this article.

Write to Ben Dummett at [email protected] and Max Colchester at [email protected]

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Latest news on VANTIV INC
01/17 VANTIV : Form 8.3 - Worldpay Group PLC
01/16 VANTIV : officially completes Worldpay acquisition
01/16 VANTIV : Scheme becomes effective
01/16 WORLDPAY : Vantiv acquires London ecommerce firm
01/12 VANTIV : stakeholders officially approve Worldpay purchase
01/12 VANTIV : SalePoint, Inc. Announces Payment Processing Partnership with Vantiv
01/11 VANTIV : stockholders OK Worldpay merger
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Financials ($)
Sales 2017 2 120 M
EBIT 2017 900 M
Net income 2017 278 M
Debt 2017 4 367 M
Yield 2017 -
P/E ratio 2017 50,29
P/E ratio 2018 39,73
EV / Sales 2017 8,66x
EV / Sales 2018 4,44x
Capitalization 13 995 M
Chart VANTIV INC
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Vantiv Inc Technical Analysis Chart | US92210H1059 | 4-Traders
Technical analysis trends VANTIV INC
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
 
Mean consensus OUTPERFORM
Number of Analysts 33
Average target price 87,9 $
Spread / Average Target 12%
EPS Revisions
Managers
NameTitle
Charles D. Drucker Executive Chairman & Co-Chief Executive Officer
Philip Eric Rene Jansen Co-Chief Executive Officer & Director
Mark L. Heimbouch Chief Operating Officer & Director
Stephanie Ferris Chief Financial Officer
Michael D. Vaughan Rake Lead Independent Director
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