Payments giant Worldpay has been sold for £37bn ($43bn) to US rival Fidelity National Information Services (FIS) in the biggest merger yet for its sector.
This deal announced Monday will grant Worldpay shareholders $11 a share in cash as well as 0.9287 of a FIS share, worth a combined $112.12 as of last week.
The announcement was billed as a merger but will see FIS shareholders take a 53 percent stake in the combined group, while Worldpay investors will have 47 percent.
The combined entity will have approximately $12.3bn pro forma 2018 annual revenue, the companies said.
FIS, which is headquartered in Florida, provides electronic payments services and software for financial services businesses….