8-KOther Events

Fidelity National Information Services, Inc. 8-K Report, Corporate Update (Jul 5, 2019)

Filed July 5, 2019For Securities:FIS

Summary

Fidelity National Information Services, Inc. (FIS) has announced a significant regulatory milestone in its proposed merger with Worldpay, Inc. On July 5, 2019, the European Commission granted unconditional approval for the transaction. This approval, alongside all other required regulatory clearances, brings FIS and Worldpay closer to consummating the merger, which is anticipated on or about July 31, 2019, subject to customary conditions including shareholder approvals. This development is crucial for investors as it removes a major hurdle towards the creation of a larger, integrated payment processing entity. The merger is expected to yield significant strategic benefits, though the filing also reiterates potential risks associated with integration, synergy realization, and market dynamics. Investors should monitor the upcoming shareholder meetings and the official closing date for updates on this transformative deal.

Key Highlights

  • 1European Commission grants unconditional approval for the merger between FIS and Worldpay.
  • 2All required regulatory approvals for the merger have now been obtained.
  • 3The merger is expected to close on or about July 31, 2019, contingent on shareholder approvals and other customary conditions.
  • 4Shareholder special meetings to vote on the merger are scheduled for July 24, 2019.
  • 5The filing includes a comprehensive list of forward-looking statements and associated risks, such as integration challenges, synergy achievement, and potential business disruptions.
  • 6Investors are urged to review the Form S-4 registration statement and joint proxy statement/prospectus for detailed information.

Frequently Asked Questions

The primary news is the unconditional approval of the merger between FIS and Worldpay by the European Commission on July 5, 2019. This means all necessary regulatory approvals have been secured for the transaction.

The merger is expected to be completed on or about July 31, 2019. This timeline is subject to the satisfaction of remaining customary contractual conditions, including obtaining the necessary shareholder approvals at special meetings scheduled for July 24, 2019.

The filing highlights several risks, including the possibility that the transaction may not be completed or provide expected benefits, challenges in integrating FIS and Worldpay, potential loss of customers or key employees, unforeseen liabilities, and general risks related to international business, economic conditions, regulatory changes, and competitive pressures.

Investors are strongly advised to read the Form S-4 registration statement, which includes the joint proxy statement/prospectus, and other relevant documents filed with the SEC. These documents contain important information about the merger and can be accessed on the SEC's website or through FIS's investor relations portal.