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VANTIV INC
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Vantiv Offers Deal for Worldpay Valued at $10 Billion -- Update

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07/05/2017 | 02:47pm CEST
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 Inc. at $10 billon, potentially beating out rival bidder J.P. Morgan Chase & Co.

Worldpay said in a statement Wednesday that it had agreed a deal in principle with Vantiv.

The deal, if successful, would create a trans-Atlantic payments processing giant with a combined market value of more than $20 billion. The preliminary agreement still leaves space for J.P. Morgan to make a counterbid. Both parties have until Aug. 1 to make a firm offer.

Vantiv is offering a share and cash deal that would value Worldpay at about 19% of its closing share price before speculation of a deal began. Under the current merger on offer, Worldpay shareholders would own approximately 41% of the share capital of the two groups.

J.P. Morgan confirmed Wednesday it was considering an offer for Worldpay following an invitation from the U.K. firm, but has decided not to go ahead with an offer.

Worldpay is particularly strong in the U.K. and the U.S., processing millions of payments daily in stores, online and on mobile phones.

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.

Payments businesses are under pressure to consolidate as regulators and rising competition from technology startups, squeeze the fees of incumbents. Worldpay rival Nets AS said last week that 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.

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

Stocks mentioned in the article
ChangeLast1st jan.
WORLDPAY GROUP 0.00%-End-of-day quote.2.21%
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Financials ($)
Sales 2018 3 885 M
EBIT 2018 1 693 M
Net income 2018 194 M
Debt 2018 6 254 M
Yield 2018 -
P/E ratio 2018 105,69
P/E ratio 2019 32,53
EV / Sales 2018 8,46x
EV / Sales 2019 7,30x
Capitalization 26 611 M
Chart VANTIV INC
Duration : Period :
Vantiv Inc Technical Analysis Chart | US92210H1059 | 4-Traders
Income Statement Evolution
Consensus
 
Mean consensus OUTPERFORM
Number of Analysts 32
Average target price 92,6 $
Spread / Average Target 8,4%
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
Sector and Competitors
1st jan.Capitalization (M$)
VANTIV INC5.90%26 611
WORLDPAY INC7.04%26 611
CINTAS CORPORATION22.28%20 307
UNITED RENTALS-5.95%13 517
INTERTEK GROUP9.25%12 146
BUREAU VERITAS0.92%11 898