The U.S. banking giant has made an early approach for United Kingdom -based Worldpay, the target company said on Tuesday. BNP Paribas reiterated an "outperform" rating and set a GBX 340 ($4.40) target price on shares of Worldpay Group PLC in a research report on Wednesday, March 8th.
Wall Street Wires cited unnamed City sources as suggesting Worldpay had been approached by suitors. "It will serve a wide range of customers, with a strong position in the four core regions of the US, Europe, Asia Pacific and South America".
Vantiv's acquisition of Worldpay "fits in very nicely against this backdrop" said Beck, who outlined the logic of the deal in a February note.
Worldpay Group PLC's stock soared almost 30% Tuesday, becoming the star performer in the U.K.'s FTSE 100 as two suitors approached the payments processor about a potential merger. Vantiv Chief Financial Officer Stephanies Ferris would take up the CFO role in the merged firm. It was snapped up by Bain Capital and Advent in 2010 after the Royal Bank of Scotland had to sell off the division as effect of its Government bailout in 2008. The announcement comes a day after Danish payment services provider Nets A/S said it's reviewing its options after receiving interest from potential buyers.
Gordon Hayward to kick off his free-agency meetings with Heat
The Jazz are the only team that can offer Hayward a five-year maximum contract, which would be worth around $172.3 million. Hayward played for Boston coach Brad Stevens when they both were at Butler , so the Celtics' system should be a good fit.
Stunning lap gives Hamilton pole for Azerbaijan GP
F1 championship leader Sebastian Vettel , who leads Hamilton by 12 points in the standings, qualified fourth for Sunday's race. Fernando Alonso will start Sunday's race from the back of the grid following a series of changes to his Honda engine.
July 4th gas prices lowest since 2005
While among the highest in the nation, the figure is still about 12 cents less than this time in 2016. It's not just cheap gas prices that are fueling that demand, AAA says.
High temps fuel fires in Utah, Arizona
The US Forest Service has reported that at least 13 large wildfires are burning across the Western United States. That fire, according to the Utah Fire Information website, was 43 acres and 25 percent contained as of Monday.
Rite Aid Corp (NYSE:RAD)
To say Rite Aid Corporation (NYSE: RAD ) have been on a roller coaster ride this year would be a considerable understatement. The Pharmaceutical Wholesale division recorded quarterly sales of $5.3 billion, down 7.9% year over year (up 3.7% at CER).