Vantiv deadline to make formal bid for Worldpay extended
(ShareCast News) - Payments processor Worldpay said on Tuesday that the deadline for US-based Vantiv to make a firm offer for the company has been extended to 8 August.
Vantiv agreed to buy Worldpay for £7.7bn early last month and Vantiv had until 1 August to put in a formal bid. However, the companies are still negotiating the terms.
"Positive discussions are continuing between Worldpay and Vantiv, but there can be no certainty that a firm offer will be forthcoming," it said.
As a result, Worldpay asked that the Panel on Takeovers and Mergers extend the put up or shut up deadline.
The company said a further announcement will be made when appropriate.
At 0920 BST, Worldpay shares were up 0.7% to 372.50p.