Deals
JPMorgan Tips Hand on Payments Hopes Despite Bailing on Worldpay
- Lender considered making bid before $9.9 billion Vantiv offer
- Bank to look for other ways ‘to tackle that market’: analyst
Vantiv to Acquire London's Worldpay for $9.9 Billion
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JPMorgan Chase & Co. signaled its aspirations in the payments-processing industry with its willingness to consider a bid for Worldpay Group Plc, the London-based company being acquired by Vantiv Inc. for $9.9 billion.
JPMorgan’s merchant-acquiring unit, which handles card transactions for businesses, has vaulted to the world’s biggest by volume, fueled by the growth of e-commerce. The lender, which had considered making a bid for Worldpay, walked away Wednesday after Vantiv’s offer became public.