Merger of Worldpay with Vantiv becomes effective
The listing of Worldpay Shares on the premium listing segment of the Official List and the admission to trading of Worldpay Shares on the London Stock Exchange’s Main Market were each cancelled with effect from 8.00 a.m. today.
A followup to FinanceFeeds’ earlier article about the merger of Worldpay Group PLC (LON:WPG) with Vantiv and Bidco (a subsidiary of Vantiv) getting the approval of the High Court of Justice in England and Wales…
Today, Worldpay and Vantiv announce that all the Conditions set out in the scheme document dated 28 November 2017 (the “Scheme Document”) have been satisfied or waived and the Scheme of the Merger has become Effective in accordance with its terms.
Let’s recall that in August 2017, the boards of Worldpay and Vantiv announced that they had reached agreement on the terms of a recommended merger of Worldpay with Vantiv and Bidcoin the form of a recommended offer for the entire issued and to be issued ordinary share capital of Worldpay by Vantiv and Bidco. In respect of each Worldpay Share for which a valid Cash Election was made and satisfied, Worldpay Shareholders will receive approximately 420 pence per Worldpay Share as set out in the Scheme Document. Worldpay Shareholders who made valid Share Elections have had such elections scaled down on a pro rata basis by 86.3%. In respect of each Worldpay Share for which a valid Share Election was made and satisfied, Worldpay Shareholders will receive approximately 0.0773 of a New Vantiv Share.
Worldpay Shareholders who did not make valid Cash Elections or Share Elections or have not participated in the Mix and Match Facility will receive the Standard Consideration.
In line with announcements made on January 11, 2018, the listing of Worldpay Shares on the premium listing segment of the Official List and the admission to trading of Worldpay Shares on the London Stock Exchange’s Main Market were suspended with effect from 7.30 a.m. (London time) on January 15, 2018.
Worldpay further announces that the listing of Worldpay Shares on the premium listing segment of the Official List and the admission to trading of Worldpay Shares on the London Stock Exchange’s Main Market were each cancelled with effect from 8.00 a.m. today.
A special dividend of 4.2 pence per Worldpay Share will be paid on January 29, 2018 to Worldpay Shareholders on the register of members of Worldpay at the Scheme Record Time.
