U.S. credit card processing company Vantiv (VNTV, +0.32%) moved closer to creating a global payments powerhouse Wednesday with a formal offer to buy Britain’s Worldpay (WPG, -1.51%) for 8 billion pounds ($10 billion).
Although the deal was first announced on July 5, it has taken several weeks of talks to conclude, with the deadline for a formal offer extended twice as the companies haggled over governance and ways to safeguard British jobs.
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