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Vantiv Inc makes $10bn bid for Worldpay Group

Vantiv is offering a share and cash deal valuing Worldpay at about 19% of its closing share price

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Worldpay is, as the name suggests, a payments firm

Vantiv Inc (NYSE:VNTV), the US credit-card processor giant has made a bid for the UK payments group Worldpay Group Inc worth $10bn.

Vantiv is offering a share and cash deal valuing Worldpay at about 19% of its closing share price before bid speculation, that also involved J.P. Morgan Chase & Co (NYSE:JPM).

The UK listed firm on Wednesday  said it had agreed in principle with Vantiv.

It would create a trans-Atlantic payments processing giant with a combined market value of more than $20bn.

JP Morgan, however, still has until August 1 to make a firm offer.

Ohio-based Vantiv helps merchants, banks and credit unions accept credit- and debit-card payments, as well as gift cards and online payments mainly in the U.S.A.

Quick facts: Worldpay

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LSE:WPG
Market: LSE
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