Worldpay Group confirms it has received preliminary approaches from Vantiv and JPMorgan Chase Bank in relation to the potential acquisition of the entire issued, and to be issued, share capital of Worldpay.
Any deal is expected to be valued in the US$10 billion range.
The companies now have 28 days, or until August 1, to make a formal bid, per rules in the UK’s Takeover Code.
Worldpay processes 31 million mobile, online and in-store transactions daily. The Company serves more than 400,000 customers and processes payments in 146 countries and 126 currencies. Worldpay processes about 15 billion transactions annually with a total value of c.402 billion. Payments in the UK account for 42% of all transactions processed by Worldpay.
Worldpay Group has three operating divisions: Global eCom, Worldpay US and Worldpay UK.
*Global eCom serves large and fast growing internet-led multinationals with complex payment needs, supported by our vertical expertise.
*Worldpay UK (WPUK) provides local in-store, online and mobile payment acceptance solutions for UK-based merchants, from large corporates to small and medium-sized enterprises (SMEs/SMBs) and micro merchants, accounting for approximately 42% of UK card payments.
*Worldpay US (WPUS) provides local in-store, online and mobile payment acceptance solutions for US-based merchants, with a focus on integrated payments for SMEs/SMBs.
Worldpay began as a subsidiary of NatWest Bank in the UK, and eventually it became a part of RBS (the Royal Bank of Scotland) when those two banks combined. It was then spun off in 2009 as part of a divestment agreement struck with the European Commission to help give RBS a bail-out package during the banking crisis.
It has been publicly listed since 2015.
