Merger with FIS not to be discussed at Worldpay’s annual stockholder meeting

Maria Nikolova

A separate meeting of the Worldpay stockholders will be held to vote on the merger and merger-related matters.

Less than a month has passed since payments technology company Worldpay Inc (LON:WPY) and fintech expert FIS (NYSE:FIS) announced they entered into a definitive merger agreement. Worldpay has filed a document with the SEC, including details about the agenda of its annual stockholder meeting. Those hoping to get some hint about the developments around the planned merger would be disappointed, as the deal will not be discussed at the meeting.

On March 17, 2019, Worldpay entered into an agreement and plan of merger with Fidelity National Information Services, Inc. (FIS) and Wrangler Merger Sub, Inc., a wholly-owned subsidiary of FIS pursuant to which Wrangler will merge with and into Worldpay with Worldpay continuing as a wholly-owned subsidiary of FIS. Subject to the terms and conditions set forth in the Merger Agreement, Worldpay’s stockholders will receive 0.9287 shares of common stock of FIS and $11 cash for each share of Worldpay. Completion of this merger remains subject to certain customer closing conditions including receipt of required stockholder and regulatory approvals.

In the SEC filing, Charles Drucker, Executive Chairman and Chief Executive Officer of Worldpay, explains that the business to be conducted at the 2019 Annual Meeting does not relate to the merger. A separate meeting of the Worldpay stockholders will be held to vote on the deal and merger- related matters and a separate proxy statement will be provided to Worldpay stockholders in connection therewith.

The items of business to be put to vote at the the 2019 Annual Meeting include:

  • To elect Lee Adrean, Mark Heimbouch and Gary Lauer as Class I directors;
  • To approve, on an advisory basis, the compensation of the Company’s named executive officers;
  • To approve, on an advisory basis, the preferred frequency of stockholder advisory votes on executive compensation;
  • To ratify the appointment of Deloitte & Touche LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2019; and
  • To conduct any other business properly brought before the meeting or any adjournment or postponement thereof.

Read this next

Retail FX

Stephen Kalayjian launches educational and community platform TradeEZ

TradeEZ has partnered with online broker TradeZero to provide chart overlays that can be accessed on the TradeZero platform. In the future, the firm will be looking to partner with some of the largest firms around the world.

Retail FX

LiteFinance launches new mobile app on Google Play

The mobile app allows users to trade and copy professional traders’ positions and gain access to trading chat rooms.

Technology

ECXX taps OneTick for data management and analytics

OneTick is asset class-agnostic and currently has customers across FX, equities, futures, CFDs, FI, and options.

Industry News

$1.5 million: SEC fines BNY Mellon Investment Advisor for misstatements and omissions about ESG

Investors are increasingly focused on ESG considerations when making investment decisions.

Digital Assets

Mercuryo reaches 3 million users amid crypto payments’ US and Asia expansion

“The opportunities for linking crypto and fiat currencies are abundant. From crypto projects that require fiat solutions (like fiat on and off ramps and IBANs), through to crypto for traditional fiat systems, and solutions for fintech companies that enable clients to buy or sell crypto within their own infrastructure.”

Retail FX

Maltese watchdog warns of bogus broker Perfect Choice Trade

The Malta Financial Services Authority (MFSA), the regulator responsible for the oversight of the forex  sector in the Mediterranean island, today issued a warning against a forex broker that offers its services without having the authorization to do so.

Digital Assets

Dukascopy warns of fake website impersonating its cryptocurrency

Switzerland’s forex bank and broker, Dukascopy, today warned against a fraudulent website that have been falsely claiming affiliation with its ‎authorized brand.‎

Uncategorized

Freetrade raises £30 million to fund business expansion

Freetrade, which calls itself a challenger stockbroker, has raised £30 million in debt financing led by a clutch of existing investors.

Digital Assets

Crypto assets under management at lowest point since July 2021

Crypto investment products registered outflows for a second consecutive week, the bulk of which came from bitcoin funds, according to data from digital asset manager CoinShares.

<