Vantiv agrees to buy Worldpay, GBP/USD rallies to 1.3030

Over the last hour, the pound caught a fresh bid against its American counterpart, sending the GBP/USD pair sharply beyond 1.30 handle to now flirt with daily tops of 1.3028.

The latest leg higher in Cable is mainly attributed to the latest mergers news between the US listed firm and UK listed company. The latest reports, as cited by Bloomberg, state that the US payment firm Vantiv agreed to buy the UK's Worldpay for approximately EUR 10 billion.

As per the press release, “Vantiv will seek a secondary standard listing on the Main Market of the London Stock Exchange in relation to the New Vantiv Shares following completion of the Merger. In addition, the New Vantiv Shares will be authorised for primary listing on the New York Stock Exchange subject to official notice of issuance.”