LONDON — Britain’s largest payment processing company has agreed to a $9.9 billion takeover by U.S. rival Vantiv.
Worldpay, which allows businesses to accept credit cards and online payments, released a statement Wednesday saying the companies “reached an agreement in principle on the key terms of a potential merger.”
The announcement follows Worldpay’s confirmation Tuesday that it was in takeover talks with both Cincinnati-based Vantiv and JP Morgan, news that boosted their stock 28 percent.
The stock fell about 8 percent on Wednesday to $4.82 per share.
Under the terms of the potential merger, Worldpay shareholders would receive a total value of $4.97 per share.
The boards of Vantiv and Worldpay said they see “compelling strategic, commercial and financial rational” for merging.