Investigation Overview
An investigation on behalf of investors, who currently hold shares of Worldpay, Inc. (NYSE: WP), was announced concerning whether the takeover of Worldpay, Inc. (NYSE: WP.) is unfair to NYSE: WP stockholders.
The investigation by a law firm concerns whether certain officers and directors of Worldpay, Inc. breached their fiduciary duties owed to NYSE: WP investors in connection with the proposed acquisition.
Cincinnati, Ohio based Worldpay, Inc., through its subsidiary, Worldpay Holding, LLC, provides electronic payment processing services in the United States, Europe, and Asia. On March 18, 2019, FIS (NYSE: FIS) and Worldpay, Inc. (NYSE: WP; LSE: WPY) announced that they have entered into a merger agreement. At the closing, under the terms of the agreement, Worldpay shareholders will be entitled to receive 0.9287 FIS shares and $11.00 in cash for each share of Worldpay, or a value of approximately $112.11 per share.
However, given that at least one analyst has set the high target price at $134.00 per share, the investigation concerns whether the offer is unfair to NYSE: WP stockholders. More specifically, the investigation concerns whether the Worldpay Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.