Worldpay & Vantiv Reach Agreement In Principle On Merger Terms - Quick Facts

(RTTNews) - The boards of Worldpay Group plc and Vantiv, Inc. (VNTV) announced they have reached an agreement in principle on the key terms of a potential merger. The ordinary shareholders of Worldpay would receive, for each ordinary share in Worldpay: 0.55 pounds in cash; and 0.0672 new Vantiv shares. Worldpay shareholders would also be entitled to a cash dividend of 5 pence per Worldpay share. The total value to Worldpay shareholders would be 3.85 pounds per Worldpay share. Worldpay and Vantiv will proceed with a mutual due diligence process.

Following completion of the potential merger, Worldpay shareholders would own approximately 41% of the share capital of the combined Group on a fully diluted basis. The combined Group will be led by Charles Drucker as Executive Chairman and Co-CEO and Philip Jansen as Co-CEO, with Stephanie Ferris as CFO.

Worldpay said the Group's current trading and outlook for the half year is in line with its management expectations.