US firm Vantiv to buy British rival Worldpay for £9.3bn

UK's largest payment processing company agrees to a takeover deal and primary listing on the New York Stock Exchange

Worldpay, the UK's largest payment processing company, has agreed to a 9.3bn takeover by US rival Vantiv after reassuring MPs that the deal did not amount to post-Brexit "cheap pickings" for a foreign buyer.

A spokesman for the UK company said it had contacted senior politicians to explain the strategic rationale behind the deal, amid concerns that the fall in sterling since 2016 was turning prime British assets into bargains.

Another top British company #Worldpay at risk following #Arm. Cheap pickings after #Brexit vote devaluation. Need reform #TAKEOVER rules.