UK payment processor Worldpay agrees to $9.9B takeover by US rival

SHARE UK payment processor Worldpay agrees to $9.9B takeover by US rival

Britain’s largest payment processing company, Worldpay, has agreed to a $9.9 billions takeover by U.S. rival Vantiv. | AP file photo

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.

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