Worldpay, the UK leading payments processor favoured by bars and restaurants, has reached a preliminary agreement to merge with US rival Vantiv in a deal which values Wordpay at £9.1bn including debt.
The offer is predominantly share-based and values Worldpay shares at 385p each, including the payment of a 5p dividend.
The deal will see the newly-combined group run by two chief executives and co-headquartered between London and Cincinnati, where Vantiv is based.
Charles Drucker, who leads Vantiv, will become co-chief executive alongside Worldpay’s head Philip Jansen during a transition period.
Worldpay shareholders would own roughly 41 per cent of the combined group.
