06 July 2017

And another British company falls to overseas ownership ...

The BBC reports:
US payment processing giant Vantiv has agreed to merge with its British rival Worldpay in a deal valuing the company at about £9.1bn.
Vantiv has offered to pay 385p a share for Worldpay, or £7.7bn, plus £1.4bn to cover debts.
In a joint statement, the two companies said that both boards of directors had reached an "agreement in principle" on the deal.
It may be described as a merger but you can bet the decisions will be taken in Cincinnati rather than in the UK.

I suppose that this signals that the government's plans to intervene in foreign takeovers are little more than hot air ...


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