Worldpay granted second deadline extension for Vantiv deal
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British payments firms Worldpay said on Tuesday that the deadline for its long-awaited deal with U.S. suitor Vantiv has been pushed back by yet another four days as the two companies need more time to reach a final agreement.
Cincinnati-based Vantiv, which last month agreed to buy Worldpay, a former unit of Royal Bank of Scotland, for 7.7 billion pounds ($10 billion), now has until Aug. 11 to make a firm bid or walk away for six months.
But this deadline could be pushed back further still if the UK Takeover Panel, which governs mergers and acquisition (M&A) deals in Britain, approves.
This is already the second time that the deadline has been renegotiated as the two companies haggle over the terms of their deal, including protection of British jobs and employees, sources close to the matter told Reuters.
The two payments firms have also pushed back the date of their respective earnings.
Worldpay said its half year results for the period ended June 30, 2017, due on Tuesday, will now be released on Wednesday in conjunction with Vantiv's second quarter 2017 results.
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FAST-FOOD CHAIN YUM CHINA REJECTS $17.6 BILLION HILLHOUSE BUYOUT OFFER
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T-Mobile, Sprint ready board committees to decide on merger: sources
Asia tracks Wall St. higher, dollar advance slows before jobs data
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