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4-Traders Homepage  >  Equities  >  Nyse  >  Vantiv Inc    

VANTIV INC
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Vantiv to Buy Back $1.27 Billion in Shares Held by Fifth Third Bancorp

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08/08/2017 | 07:29pm CEST
By Justina Vasquez 

Vantiv Inc. agreed to buy nearly 20 million of its shares from former parent Fifth Third Bancorp for roughly $1.27 billion in a move that allows the payments-processing firm to avoid stock dilution ahead of its planned acquisition of the U.K.'s Worldpay Group PLC.

Fifth Third exercised warrants of Class B shares it held in Vantiv last week, converting them into 19.79 million of Class A stock. Vantiv said Tuesday it reached a deal with the Cincinnati bank to buy and then cancel the shares.

Fifth Third spun off Vantiv, formerly named Fifth Third Processing Solutions, as a separate company in 2009. The bank has been steadily shrinking its position in Vantiv in recent years.

Vantiv that following this share purchase, Fifth Third's remaining director would resign from the company's board.

Vantiv and Worldpay also announced that talks on their planned tie-up are continuing, about one month after Vantiv announced a $10 billion plan to takeover Worldpay.

Fifth Third will hold about a 4.9% stake in Vantiv if the purchase of Worldpay closes.

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 1 686 M
Net income 2018 196 M
Debt 2018 6 571 M
Yield 2018 -
P/E ratio 2018 110,88
P/E ratio 2019 34,11
EV / Sales 2018 8,70x
EV / Sales 2019 7,71x
Capitalization 27 214 M
Chart VANTIV INC
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Vantiv Inc Technical Analysis Chart | US92210H1059 | 4-Traders
Income Statement Evolution
Consensus
 
Mean consensus OUTPERFORM
Number of Analysts 32
Average target price 93,9 $
Spread / Average Target 7,9%
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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