Vantiv, J.P. Morgan Make Takeover Approach for U.K.'s Worldpay
July 04 2017 - 5:20AM
Dow Jones News
By Tapan Panchal
LONDON -- U.K. payment-processing technology company Worldpay
Group PLC on Tuesday said it had received a preliminary takeover
approach from U.S. rival Vantiv Inc. and J.P. Morgan Chase &
Co.
Shares in the British company soared on the news, rising as much
as 22%, to value the company at more than GBP7 billion ($9.06
billion).
Vantiv and J.P. Morgan have until Aug. 1 to make a firm offer
for Worldpay, pursuant to U.K. takeover rules. The British company
said there could be no certainty that an offer would be made or the
terms of any potential deal.
Write to Tapan Panchal at Tapan.Panchal@wsj.com
(END) Dow Jones Newswires
July 04, 2017 05:05 ET (09:05 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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