Vantiv, J.P. Morgan Make Takeover Approach for U.K.'s Worldpay

By Tapan PanchalFeaturesDow Jones Newswires

U.K. payment-processing technology company Worldpay Group PLC on Tuesday said it had received a preliminary takeover approach from U.S. rival Vantiv Inc. and J.P. Morgan Chase & Co.

Shares in the British company soared on the news, rising as much as 22%, to value the company at more than GBP7 billion ($9.06 billion).

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Vantiv and J.P. Morgan have until Aug. 1 to make a firm offer for Worldpay, pursuant to U.K. takeover rules. The British company said there could be no certainty that an offer would be made or the terms of any potential deal.

Write to Tapan Panchal at Tapan.Panchal@wsj.com

(END) Dow Jones Newswires

July 04, 2017 05:05 ET (09:05 GMT)