Vantiv sets sights on Worldpay in potential $10B deal
Cincinnati-based payment processor Vantiv has agreed in principle to acquire Worldpay, a British rival in the processing world, for $10 billion, according to statements from both companies.
Worldpay revealed Tuesday that it had received offers from both Vantiv and JPMorgan Chase, the latter of which said it did not intend to make an counteroffer.
"The potential merger creates a scale, world-class payments group in a dynamic market, with deep payments capabilities, product and vertical expertise and strong distribution channels to serve merchants around the world in the global e-commerce market, and in-store and online in the U.K. and U.S. markets," the companies said in a statement.
No word yet on when the sale would be completed.