The boards of Vantiv and Worldpay are pleased to have agreed on the terms of a recommended merger between Worldpay and Vantiv UK Limited (a subsidiary of Vantiv) („Bidco“) in the form of a recommended offer for the entire share capital of Worldpay (the merger) issued by Vantiv and Bidco. In July 2013, Vantiv announced an agreement to acquire Element Payment Services.  Element is a provider of fully integrated DSS payment processing solutions for distributors and enterprise management software providers.  Under the current agreement, after the merger, Worldpay shareholders would hold approximately 41% of the merged entity`s capital. Worldpay would be discounted by the London Stock Exchange. Worldpay shares, which rose on Tuesday after learning it was an acquisition target, fell about 2 percent after the deal was announced. Worldpay has received offers from Vantiv and JPMorgan, he said on Tuesday. JPMorgan has until 1 August to submit a counter-offer in accordance with UK rules, which is also the deadline for Vantiv to submit a firm offer. A JPMorgan spokesman said Wednesday that the bank no longer wants to play for the company. Worldpay said Vantiv offered 55 pence in cash, 0.0672 of a new Vantiv share, an intermediate dividend of 0.8 pence per Worldpay share and a special dividend of 4.2 pence, which will extend the former RBS RBS. L-business at 397 pence per share. The so-called merchant company helps traditional retailers and online businesses process their payments. Financial technology start-ups such as Adyen, Square and Stripe have tried to establish themselves in this area.
Stephanie Ferris, Vantiv`s CFO, becomes the group`s CFO and reports to the printer. The combined company will process approximately $1.5 trillion in payments and $40 billion in transactions on more than 300 payment methods in 146 countries and 126 currencies, with total net sales of more than $3.2 billion. In 2003, Midwest Payment Systems adopted the name Fifth Third Processing Solutions. In 2006, the company acquired card management Corporation (CMC) to offer a wider range of treatment services. A few years later, in 2009, Fifth Third Processing Solutions was relocated by Fifth Third Bancorp and was created as a joint venture between Advent International and Fifth Third Bank, a subsidiary of Fifth Third Bancorp.  Sponsored: 2021 Analysis of Cloud Service Providers – Take the survey > companies like Vantiv, with a strong presence in the United States, are trying to establish a global footprint in the rapidly changing payments industry.