Yahoo Finance What to Watch: Worldpay takeover, Deutsche Bank in spotlight, London Stock Exchange shake-up
Here are some of the top business, market, and economic stories you should be watching today in the UK, Europe, and abroad:
Worldpay getting acquired in $43bn deal
Worldpay (WP, WPY.L), a global payments provider with British roots, is being acquired in an eye-popping deal worth $43bn (£32.4bn), which includes debt.
US-based FIS (FIS) announced the purchase on Monday. FIS is a giant in the financial services technology industry and said it was making the purchase to expand and improve its payment services, as well as gain access to new, growing markets.
The Royal Bank of Scotland (RBS.L) spun out Worldpay roughly a decade ago as part of the terms of its state-backed bailout. It was purchased by Advent International and Bain Capital for a reported £2bn. Most recently, Worldpay was purchased last year by Vantiv.
Worldpay processes tens of millions of transactions each day across 146 countries.
Deutsche Bank and Commerzbank shares jump on merger talks
Shares in Deutsche Bank (DBK.DE) and Commerzbank (CBK.DE) are surging by 4% and 6%, respectively, after the German giants announced over the weekend that they had begun merger discussions.
Deutsche Bank is the largest bank in Germany, and Commerzbank is the country’s only other big bank.
Together, Deutsche and Commerzbank employ 140,000 people worldwide. Union officials have warned that a merger would put tens of thousands of jobs at risk.
JD Sports buying Footasylum
JD Sports (JD.L) announced Monday it is buying fellow retailer Footasylum for £90m ($119m).
The sportswear chain previously said it had no intention of making an offer, despite recently acquiring a nearly 19% stake in Footasylum.
Footasylum (FOOT.L) was founded in 2005 by David Makin, one of the co-founders of JD Sports.
London Stock Exchange shake-up
The London Stock Exchange (LSE.L) had a shake-up Monday morning, as food delivery company Just Eat and insurer Phoenix Group Holdings (PHNX.L) were added to London’s FTSE 100 (^FTSE) index.
The move is part of a semi-regular reshuffle that kicks out shrinking companies and brings in growing firms.
Just Eat and Phoenix Group Holdings are replacing GVC Holdings (GVC.L) and Wood Group (WG.L).
The FTSE 100 tracks the 100 largest companies traded in London.
Global stock market overview
Most European stock markets were making gains in morning trading, following a big rally in Asia.
China’s benchmark Shanghai Composite (000001.SS) surged by 2.5% and Hong Kong’s Hang Seng index (^HSI) jumped by 1.4%
US stock futures were showing less enthusiasm on Monday morning, with the Dow Jones industrial average (YM=F) pointing down. The S&P 500 (ES=F) and Nasdaq (NQ=F) were essentially flat.
