Worldpay said that for each of its shares, Vantiv offered 55 pence in cash, 0.0672 of a new Vantiv share, an interim dividend of 0.8 pence per Worldpay share, and a special dividend of 4.2 pence per Worldpay share.
The combined company will be valued at £22.2 billion or $28.8 billion.
Worldpay shareholders will own approximately 43 percent and Vantiv shareholders will own approximately 57 percent of the combined company.
The combined group will be led by Vantiv Chief Executive Charles Drucker as executive chairman and co-CEO. Current Worldpay CEO Philip Jansen will be co-CEO of the joint group. Vantiv Chief Financial Officer Stephanie Ferris, will remain CFO of the combined group. The board will consist of five Worldpay and eight Vantiv directors.
Cincinnati, Ohio will become the company’s global and corporate headquarters and London, U.K. will become its international headquarters.
Worldpay shares will be delisted from the London Stock Exchange while the new Vantiv shares will be listed on the New York Stock Exchange. Vantiv will also seek a secondary listing for its new shares on the London Stock Exchange.
Vantiv first announced its intention to buy Worldpay in July.