Worldline To Buy Ingenico Group In EUR 7.8 Bln Deal

France's Worldline SA said it would buy Ingenico Group SA in a deal consisting of 81% stock and 19% cash. The deal gives Implied Ingenico equity value of 7.8 billion euros.

The companies's Boards approved a business combination agreement by which Worldline would launch a tender offer for all Ingenico shares.

As per primary tender offer, Ingenico shareholders would receive 11 Worldline shares and 160.5 euros in cash in exchange for seven Ingenico shares.

Under a secondary offer, Ingenico shareholders would receive 56 Worldline shares in exchange for 29 Ingenico shares, translating into an offer price of 123.10 euros per share based on Friday's market close.

Upon closing, former Worldline shareholders would own 65% of the combined entity and former Ingenico shareholders would own 35%.

The transaction would combine two premier companies to create the world's number four player in payment services with about 20,000 employees in approximately 50 countries with physical presence, Worldline said.

Gilles Grapinet, current Worldline Chairman & CEO, would become the CEO of the combined entity and Bernard Bourigeaud, current Chairman of Ingenico, would become the non-executive Chairman of the Board of Directors at closing.

Worldline expects that the transaction would generate a double digit earnings per share accretion from the first year. It expects to close the deal during the third quarter of 2020.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Hormel Foods Corp. (HRL) said, in the fourth quarter, the company delivered earnings per share comparable with record results last year, which included an additional week of sales. Pretax earnings were $357 million, up 1% from a year ago. Organic net sales were up 2%, excluding the impact of an additional... Over the Thanksgiving holiday weekend, from Thanksgiving Day to Cyber Monday, around 196.7 million Americans shopped in stores and online, higher than the previous year, according to the National Retail Federation or NRF. Black Friday continued to be the most favored day for in-store as well as online shopping during the five-day holiday period. Lenoir, North Carolina -based Exela Pharma Sciences, LLC has expanded its recall of Sodium Bicarbonate Injection due to vial breakage to include more lots, the U.S. Food and Drug Administration said. The product is used for treatment of metabolic acidosis and is packaged in a 50 mL glass vial, 20 vials per carton.
Follow RTT