Worldpay Group and Vantiv Reached Agreement on Potential Merging

  • M&A Deals
  • 08.08.2017 08:45 am

Worldpay and Vantiv, Inc. (Vantiv) announced that they had reached agreement in principle on the key terms of a potential merger of Worldpay and Vantiv.

On 1 August 2017, Worldpay announced that, in accordance with Rule 2.6(a) of the Code, the deadline by which Vantiv is required to clarify its intentions by either announcing a firm intention to make an offer or that it does not intend to make an offer had been extended to 5.00pm on 8 August 2017 (the PUSU Deadline) (or such later date as the Takeover Panel may consent to in accordance with the Code). 

Positive discussions are continuing between Worldpay and Vantiv.

Therefore, the Board of Worldpay has requested that the Panel on Takeovers and Mergers (the Panel) extend the PUSU Deadline. In the light of this request, an extension has been granted by the Panel and, in accordance with Rule 2.6(a) of the Code, Vantiv is required, by not later than 5.00pm on 11 August 2017, either to announce a firm intention to make an offer in accordance with Rule 2.7 of the Code or to announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline may be extended with the consent of the Takeover Panel in accordance with Rule 2.6(c) of the Code.

The announcement of Worldpay's half year results for the period ended 30 June 2017, and Vantiv's second quarter 2017 results, will now take place on Wednesday, 9 August 2017.

A further announcement will be made when appropriate. There can be no certainty that a firm offer will be forthcoming. This announcement has been made with the consent of Vantiv.

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