Vantiv Agrees to Buy Worldpay, KKR Pursues Australian Lender

Mukesh Buch
05 Jul, 2017
New York City

KKR made non-binding takeover offer to Australia-based Pepper Group for $498 million. Monogram Residential Trust agreed to be acquired by Greystar Real Estate Partners for $3 billion. Vantiv agreed to acquire U.K.-based rival Worldpay for $10 billion.

[R]12:45 PM New York – KKR made non-binding takeover offer to Australia-based Pepper Group for $498 million. Monogram Residential Trust agreed to be acquired by Greystar Real Estate Partners for $3 billion. Vantiv agreed to acquire U.K.-based rival Worldpay for $10 billion.[/R]

Tollbooth Index fell 24.95 or 0.2% to 11,943.88.

Earnings Review

KKR & Co. L.P slumped 2% or 37 cents to $18.17 after Australian non- mortgage lender Pepper Group Ltd said it had received A$655 million or $498 million non-binding takeover offer from KKR Credit Advisors LLC.

Monogram Residential Trust Inc ((MORE)) surged 22.1% or $2.16 to $11.97 after the self-managed luxury apartment developer today agreed to be acquired by Greystar Real Estate Partners for $12 per share or about $3 billion in cash.

The transaction is expected to close in the second-half of 2017.

Odyssey Investment Partners LLC, the privately held equity firm agreed to acquire radars and satellites circuits maker CPI International Inc for more than $800 million, including debt from Veritas Capital Management LLC.

The news was first reported by Reuters.

Vantiv Inc dropped 2.5% or $1.56 to $60.94 after the credit cards processor agreed to acquire U.K.-based rival Worldpay Group plc for about $10 billion or £9.1 billion.

However, JPMorgan Chase said today it is not sure if the bank would make an offer.