Vantiv announces further extension of PUSU deadline for Worldpay merger
On July 5, Worldpay and Vantiv announced that they had reached agreement in principle on the key terms of a potential merger of Worldpay and Vantiv. On August 1, Worldpay announced that, in accordance with Rule 2.6(a) of the Code, the deadline by which Vantiv is required to clarify its intentions by either announcing a firm intention to make an offer or that it does not intend to make an offer had been extended to 5.00pm on August 8. Positive discussions are continuing between Worldpay and Vantiv. Therefore, the Board of Worldpay has requested that the Panel on Takeovers and Mergers (the Panel) extend the PUSU Deadline. In the light of this request, an extension has been granted by the Panel and, in accordance with Rule 2.6(a) of the Code, Vantiv is required, by not later than 5.00pm on August 11, either to announce a firm intention to make an offer in accordance with Rule 2.7 of the Code or to announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline may be extended with the consent of the Takeover Panel in accordance with Rule 2.6(c) of the Code. The announcement of Worldpay's half year results for the period ended 30 June 2017, and Vantiv's Q2 results, will now take place on Wednesday, August 9.