UK payments firm considers takeover by JPMorgan, US rival

AP News
Posted: Jul 04, 2017 10:08 AM

LONDON (AP) — Britain's largest payment processing company is in takeover talks with both JPMorgan and U.S. rival Vantiv.

Worldpay, which allows companies to accept credit cards and online payments, said Tuesday that it has been approached separately by the two companies but that no official offers have been made.

It said in a statement: "There can be no certainty either that an offer will be made nor as to the terms of any offer, if made."

Shares in London-based Worldpay Group Plc jumped 28 percent on the news of the takeover interest. That put the company's market value at 8.2 billion pounds ($10.6 billion).

A concrete offer must be made by August 1 under British takeover law.

JPMorgan and Vantiv did not immediately respond to requests for comment.