IFLR1000

Vantiv £9.1 billion acquisition of Worldpay Group

16/1/2018
Public acquisition, Scheme of arrangement
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£ 9.1 billion

$ 11.811 billion

Completed

16/1/2018

Overview:

  • Vantiv has acquired Worldpay Group for £9.1 billion.
  • Both companies are payment processors with Worldpay based in the UK and Vantiv in the US.
  • The deal sees Worldpay's shares valued at 385p though this fell to 372p after the announcement.
  • The combined entity will be 41% owned by Worldpay shareholders who will receive 55p and Vantiv shares as part of the deal.
  • JPMorgan was also believed to be interested in making a bid for the company.
  • The deal is seen as the beginning of a trend of consolidations in the payment processing space.
  • Worldpay undertook its IPO on the LSE in 2015 a deal on which Allen & Overy also advised.
  • Morgan Stanley and Credit Suisse acted as financial advisers to Vantiv.
  • Goldman Sachs and Barclays acted as financial advisers to Worldpay.

Sam Duke - Editor

Jurisdictions:

United States
United Kingdom

Deal types:

Public acquisition
Scheme of arrangement

Practice area:

M&A

Industry sector:

Financial services

Firms:
Allen & Overy

Party: Worldpay Group (Target)

Lawyers: Duncan Bellamy, Seth Jones

Ashurst

Party: Morgan Stanley (Financial adviser)

Party: Credit Suisse (Financial adviser)

Lawyers: Karen Davies, Tim Rennie

Davis Polk & Wardwell

Party: Morgan Stanley (Financial adviser)

Party: Credit Suisse (Financial adviser)

Lawyers: Lee Hochbaum, Will Pearce

NautaDutilh

Party: Vantiv (Acquirer)

Lawyer: Larissa Silverentand

Skadden Arps Slate Meagher & Flom

Party: Vantiv (Acquirer)

Lawyers: Peter Atkins, Scott Hopkins

Sullivan & Cromwell

Party: Fifth Third Bank (Shareholder, Seller)

Lawyers: Ben Perry, Mitchell Eitel

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