Vantiv makes £9.1bn bid for Worldpay

A preliminary deal has been struck between payment provider Worldpay and its US rival Vantiv, with Vantiv offering £9.1bn (€10.3bn/$11.75bn) to combine the companies.

The offer made by Vantiv values Worldpay’s shares at 385 pence each, however analysts had thought a sale could go as high as 500p a share, signalling the bid may not actually be the best deal for shareholders.

Worlpay, which began floating on the London stock market last year, currently cites regulated gambling as one of its key five verticals.

If the deal with Vantiv goes ahead, its shareholders will own roughly 41% of the combined group. 

JP Morgan, another interested party in Worldpay, has reportedly dropped out of the bidding in a blow to shareholders, however a merger with Vantiv would bring shareholders certain benefits and there could still be other bidders waiting in the wings.

The combined group would be run, at least in the interim, by the two company chief executives, Charles Drucker from Vantiv and Worldpay’s Philip Jansen.

It would be co-headquartered between the English capital of London, where Worldpay is based, and Cincinnati, Ohio, the US city where Vantiv’s headquarters are located.

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