JPMorgan among potential Worldpay bidders

Posted July 05, 2017

Shares in Worldpay have soared by more than 23% after it confirmed speculation of a takeover swoop from U.S. rival Vantiv and banking giant JPMorgan Chase.

The prospect of a bid battle for Worldpay (WPG) lit up the FTSE 100 as shares in the UK's largest payment processor soared 22%.

Danish payment services company Nets A/S, said over the weekend that it had also been approached by potential buyers. At noon the shares were up 25.4 per cent.

Reuters reported that shares in Worldpay had jumped this morning, with traders citing rumors that the company may be a bid target.

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Worldpay shares were marked 12.71% higher to change hands at 360.1 pence at 9:45 BST, extending a 26.45% gain over the past three months and giving it a market value of £7.85 billion ($9.7 billion).

Digital transaction processing firm Worldpay has confirmed to the London Stock Exchange that it has received acquisition bids from both Vantiv and JP Morgan Chase in the United States, after reports started to circulate that the $10bn (£7.7bn) firm was open to a takeover.

A spokeswoman for JPMorgan in London declined to comment. Vantiv could not be reached for comment.

The company describes itself as a pioneer in card payments, multi-currency processing and the rapidly-growing area of online and contactless payments.

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Two years ago, Visa dished out €21.2 billion equal to approximately $24 billion at today's exchange rates, when it acquired Visa Europe from payment services providers and banks that had formed an association.

Set up in 1989, Worldpay was spun out of British bank Royal Bank of Scotland to private equity firms Bain Capital and Advent International in 2010.

"There are a lot of companies still, and we are probably going to have only one or two big leaders in the payments space".

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