Worldpay expects merger with Vantiv to complete in mid-January 2018

Maria Nikolova

Since the merger was announced, Vantiv and Worldpay have made good progress on all aspects of the transaction and integration planning has started.

Worldpay Group PLC (LON:WPG) has earlier today provided an update on the planned merger with Vantiv.

Since the deal was announced in August this year, Vantiv and Worldpay have made nice progress on various aspects of the transaction and integration planning has begun. Vantiv and Worldpay anticipate that their respective shareholder meetings will be convened in early January 2018 and it is expected that the merger will complete in mid-January 2018, subject to, inter alia, the necessary shareholder approvals.

In early August this year, the boards of directors of Vantiv and Worldpay announced that they had reached agreement on the terms of a recommended merger of Worldpay with Vantiv and Vantiv UK Limited (a subsidiary of Vantiv). Under the terms of the merger, Worldpay shareholders will be entitled to receive 55 pence in cash for each Worldpay share held and 0.0672 of a new Vantiv share for each Worldpay share held.

The combined company was estimated to have a pro forma enterprise value of approximately £22.2 billion. Upon completion of the merger, Worldpay shareholders are set to own approximately 43%, and Vantiv shareholders are set to own approximately 57% of the combined company (on a fully diluted basis).

The companies explained the rationale for the deal via the changes in the payments landscape. In particular, merchants and consumers are continuously looking for new and innovative solutions to enable commerce as payments move into the digital world. That is why, the combined company will seek to be a leading global omni-commerce payments provider.

Vantiv believes that the merger will generate synergies that could not be achieved independently of the deal and which will lead to substantial value creation for all shareholders. Vantiv anticipates that the Merger will lead to annual recurring pre-tax cost synergies of approximately US$200 million. The synergies are expected to be fully realised by the end of the third year following completion of the merger.

Following completion of the merger, Cincinnati, Ohio will be the combined company’s global and corporate headquarters and London, UK, will become its international headquarters. The combined entity will be named “Worldpay”.

Read this next

Retail FX

Scope Markets launches unleveraged trading

“Whilst our traditional contract for difference (CFD) products continue to prove incredibly popular, the Invest account is unleveraged and only allows ‘long’ positions to be taken, a combination that significantly reduces the risk of capital losses.”

blockdag

Unlocking Profit Potential: Earn Returns with DecodeEX Experience Bonus!

DecodeEX, the innovative brokerage subsidiary of Decode Global, announced its experience bonus campaign, offering every user the opportunity to maximize their strategic trading potential with up to $10,000 in experience bonus. 

Market News

Pretiorates’ Thoughts 28 – Precious metals and base metals out of control

Ten days ago we mentioned in Pretiorates’ Thoughts 26: Chapter 2 should start with Precious Metals.

Retail FX

Webull launches discount brokerage in Malaysia

“Making investing more inclusive and accessible to all, Webull Malaysia brings best-in-class tools and information to empower investors of all levels with knowledge and skills to help them make better investment decisions and achieve their investment goals.”

Digital Assets

Hidden Road adds OKX’s Nitro Spreads into prime brokerage

“Hidden Road continually seeks to increase market access and capital efficiency through expanded prime brokerage offerings. Integrating OKX’s Nitro Spreads product builds upon this philosophy by extending our counterparties’ ability to execute risk-managed arbitrage strategies.”

blockdag

Dev Release 31: BlockDAG’s SHA-3 Upgrades Propel Crypto Mining Innovation as Miner Sales Approach 5800 Units

Learn about BlockDAG’s 31st Development Release, which includes advanced SHA-3 updates and a significant increase in miner sales, driving advancements.

blockdag

BlockDAG Dominates 2024 Crypto Trends: Surpasses $28M in Presales Amid Strategic Partnerships

Explore BlockDAG, Shiba Inu, and Kaspa Killer’s rise in 2024’s crypto market, focusing on BlockDAG’s $28M presales, strategic partnerships, and innovative technology.

blockdag

BlockDAG’s $30 by 2030 Valuation Prediction and Roadmap Reveal Gains Traction From Filecoin and XLM Investors

Discover why BDAG’s $30 price prediction by 2030 outshines Filecoin Investors’ hopes and XLM’s recent surge with a booming presale and clear roadmap.

blockdag

BlockDAG Captures $28 Million in Presale, Drawing Investors Away from Ethereum and Bitcoin

Explore how BlockDAG’s revamped dashboard led to a $28 million presale boost, while Ethereum sees a downturn and Bitcoin struggles with hash rate reductions.

<