Worldpay FTSE 100 shares surge amid JPMorgan and Vantiv Inc takeover rumours

Card payment machine

On Tuesday, British payments processor company Worldpay Group said it received two different preliminary approaches from Vantiv its rival in the US and JPMorgan Chase over the possibility of a takeover.

On Tuesday the board of Worldpay said in a statement that it had received preliminary approaches from J.P. Morgan and Vantiv Inc., a US -based credit-card processor. Neither company could be reached for comment in the USA, which is marking the July 4 holiday.

Payment processing firms have become something of a hot commodity of late, with Danish payment company Nets A/S also confirming this week that buyers have expressed an interest in acquiring it.

Shares in the company surged 70p to 389.7p, as analysts at Mediobanca Securities suggested technology titans Google (GOOGL.O), Amazon (AMZN.O) and Apple (AAPL.O) could join the fray.

A spokeswoman for JPMorgan in London declined to comment.

WallStreet Wires said earlier Tuesday that Worldpay, whose shares have climbed more than 60 per cent since its listing in 2015, had received an approach and hired advisers. Vantiv provides technology and payment services to financial institutions and merchants in the U.S.

It says that on a typical day it processes more than 31 million mobile, online and in-store transactions, or around 400 a second.

Like other banks J.P. Morgan has been reshaping its business predicting customers will move away from credit cards and simply pay with their cellphones.

Worldpay's shares hit record high.

The UK payments processing company has received offers from JPMorgan and Vantiv.

Two years ago, Visa dished out €21.2 billion equal to approximately $24 billion at today's exchange rates, when it acquired Visa Europe from payment services providers and banks that had formed an association.

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