Worldpay Jumps 11% To $109.14 Following $43B Merger With FIS

At the closing of its merger with FIS, Worldpay (WP) shareholders will be entitled to receive 0.9287 FIS (FIS) shares and $11.00 in cash for each share of Worldpay.

Upon closing, FIS shareholders will own approximately 53% and Worldpay shareholders will own approximately 47% of the combined company. The combination of stock and cash values Worldpay at an enterprise value of approximately $43B, including the assumption of Worldpay debt, which FIS expects to refinance. "Scale matters in our rapidly changing industry," stated Gary Norcross, CEO FIS.

"Upon closing later this year, our two powerhouse organizations will combine forces to offer a customer-driven combination of scale, global presence and the industry's broadest range of global financial solutions. As a combined organization, we will bring the most modern solutions targeted at the highest growth markets. The long-term value we will create for clients and for shareholders will set the bar in our industry and will create a range of new career opportunities for our employees. I have never been more excited about the future of FIS."

Worldpay competitors include TSYS (TSS), First Data (FDC), PayPal (PYPL), Square (SQ) and Global Payments (GPN). 


How did you like this article? Let us know so we can better customize your reading experience.


Leave a comment to automatically be entered into our contest to win a free Echo Show.