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July 4, 2017

Worldpay takeover: JPMorgan and Vantiv circle, share price soars

The race is on in the payments space.

By Tom Ball

Worldpay has seen its share price soar a huge 28% after announcing potential takeover bids from US payments company Vantiv and finance giant JPMorgan.

Encircled by high profile organisations looking at a potential takeover, the acquisition of the payments firm could cost in the region of £8bn.

Although Worldpay has shared the information of an approach by Vantiv and JPMorgan, the company said that “there can be no certainty either that an offer will be made nor as to the terms of any offer, if made”.

This news comes only two years after Worldpay shares appeared on the stock market; it is now part of the FTSE 100 and one of the largest listed companies in the UK.

Upon its 2015 arrival on the London Stock Exchange, it formed the largest public offering since Royal Mail’s listing in 2013.

Worldpay takeover: JPMorgan and Vantiv circle, share price soars

A provider of payments processing technology and solutions, Worldpay bills itself as a pioneer in multi-currency processing, card payments and online and contactless payments.

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Boasting a 5,000 strong staff at its London HQ, the payments firm is considered a market leader in the UK, dealing with over 40% of all transactions made.

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A trend may be appearing in regard to the payments space, with payment services company Nets A/S having also been approached at the weekend for a potential takeover. While it is unclear who is involved in the potential deal with the Danish card payment services company, observers are pointing to Mastercard or Visa as a potential bidder.

The building of momentum in the payments arena points to the phasing out of physical currency in favour of contactless and online payment.

The acquisition of Worldpay would be an important move within this area, as the company is a staple of small and medium sized businesses, such as pubs.

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