Vantiv, a U.S credit card processing company, announced Wednesday that it plans to take over U.K payment processing company Worldpay. The deal is said to be worth $9.94 billion.

Worldpay also revealed that they had been approached by finance companies Vantiv and JP Morgan Chase for acquisition. According to a statement from the bank, JP Morgan decided not to make an offer on the merger after preliminary considerations.

Completion of the potential merger will de-list Worldpay shares from the London Stock Exchange and the common stock of Vantiv will continue its listing on the New York Stock Exchange.

Shareholder approval will finalize the completion of the merger.

Source: CNBC

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