Deadline extension for Worldpay over US deal

UK payments processor Worldpay has been granted the second extension for its merger talks with US suitor Vantiv as the firms haggle over terms of the £9 billion deal.

The last-minute extension sees Vantiv given until 5pm on Friday to make a firm offer or walk away.

Worldpay said “positive discussions” are continuing between the two companies as they thrash out the final details. Cincinatti-based Vantiv reached a preliminary agreement last month on the tie-up, which would see it pay 385p a share for Worldpay, or £7.7bn, plus £1.4bn to cover debts, valuing the British group at £9.1bn.

The merger would create a trans-atlantic payments processing giant with a combined market value of more than £20bn (£15.5bn).

Worldpay was owned by Royal Bank of Scotland until the lender sold off its remaining stake to private equity firms Advent International and Bain Capital in 2013.