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Vantiv Agrees Terms for $12.1 Billion Takeover of Britain's Worldpay Group

Vantiv Inc. (VNTV) and Worldpay Group plc have agreed terms to a merger that values Britain's biggest payments processor at more than $12 billion, the two groups said Wednesday.

Vantiv said it will add 55 pence in cash for each Worldpay share, alongside its previous offer of 0.0672 "new Vantiv" shares, for the company as well as a special 5 pence per share dividend. The collective offer values Worldpay at 397 per share, or £9.3 billion ($12.1 billion) the companies said, a 3.5% premium to their Tuesday closing price but a 24.5% gain over their early June levels.

"This is a powerful combination that is strategically compelling for both companies," said Vantiv CEO Charles Drucker. "It joins two...