Stock Market & Financial Investment News

News Breaks November 14, 2012 16:36 EDT VNTV, BUSE Vantiv chosen by First Busey for merchant services Vantiv (VNTV) has entered into a multi-year agreement with First Busey's (BUSE) wholly-owned bank subsidiary Busey, a provider of financial services, to provide Merchant Bank payment acceptance solutions to their commercial banking customers. Busey has 43 banking centers. News For VNTV;BUSE From The Last 14 Days Check below for free stories on VNTV;BUSE the last two weeks. Sign up for a free trial to see the rest of the stories you've been missing. May 16, 2013 10:03 EDT BUSE On The Fly: Analyst Upgrade Summary Subscribe for More Information 06:29 EDT VNTV Vantiv re-initiated with an Outperform at Credit Suisse Subscribe for More Information 05:39 EDT BUSE First Busey upgraded to Market Perform from Underperform at Keefe Bruyette Subscribe for More Information May 9, 2013 12:29 EDT VNTV Vantiv management to meet with Jefferies Meeting to be held in New York on May 16 hosted by Jefferies. May 8, 2013 09:35 EDT VNTV Fifth Third sees Q2 after-tax gain of $145M from Vantiv share sale Fifth Third (FITB) announced that Vantiv (VNTV) recently priced a secondary offering of 38.6M shares of Class A Common Stock being sold on behalf of selling shareholders, including 15.6M shares being sold by Fifth Third. Additionally, Vantiv announced that it has entered into an agreement to repurchase 17.5M shares of the shares being sold by the selling shareholders in the offering. The combination of the sale and Vantiv’s repurchase of shares would result in an approximate 15% reduction in Fifth Third's ownership position in Vantiv, excluding warrants, the company said. Upon the settlement of this transaction, Fifth Third said it expects to recognize a pre-tax gain of approximately $225M, or approximately $145M after-tax, during Q2. Following the settlement, Fifth Third would have a remaining economic interest of approximately 28% of Vantiv’s future earnings, before consideration of the potential impact of an exercise of the underwriters’ overallotment option, it said. 06:14 EDT VNTV Vantiv 38.6M share Secondary priced at $23.75 Subscribe for More Information May 6, 2013 16:58 EDT VNTV Vantiv enters share repurchase agreement with underwriters In addition, Vantiv announced that it has entered into a share repurchase agreement with the underwriters of the Offering, subject to the completion of the Offering and the Debt Refinancing, pursuant to which it intends to repurchase 17.78M of the 38.6M shares of its Class A common stock that are being sold by the Selling Stockholders in the offering at a price per share equal to the price per share being paid by the underwriters to the Selling Stockholders in the Offering, provided that to the extent the aggregate purchase price for the shares to be repurchased by Vantiv from the underwriters exceeds $400M, such number of shares to be repurchased will be reduced accordingly. Vantiv expects to fund the share repurchase with borrowings under new senior secured credit facilities with increased term loan capacity, which it expects to enter into concurrently with the closing of the Offering. Vantiv expects to incur additional debt of approximately $650M after the Debt Refinancing, including $400M to fund the share repurchase. A special committee of Vantiv's board of directors comprised of independent, disinterested directors has authorized the share repurchase subject to the terms and conditions set forth in the share repurchase agreement, including borrowings under the new senior secured credit facilities. The share repurchase is subject to a number of conditions, and there can be no assurance that such approval will occur or that the share repurchase will be completed on the contemplated terms or at all. The consummation of the share repurchase, the Debt Refinancing and the Offering are all contingent on each other. Assuming the share repurchase is completed at the anticipated amounts and after giving effect to the anticipated impact on Vantiv's interest expense as a result of the Debt Refinancing, Vantiv expects that the share repurchase will result in accretion of approximately 7c-9c in pro forma adjusted net income per share in 2013. In addition, Vantiv expects to incur a non-cash write-off of deferred charges of approximately $18M on a pre-tax basis as a result of the Debt Refinancing. J.P. Morgan Securities, Credit Suisse Securities, Goldman, Sachs & Co., Morgan Stanley & Co., Deutsche Bank Securities, Citigroup Global Markets and Wells Fargo Securities, are acting as joint book-running managers for the Offering. SunTrust Robinson Humphrey, Inc., Robert W. Baird & Co. Incorporated and Raymond James & Associates, Inc. are acting as co-managers of the Offering. 16:54 EDT VNTV Vantiv to offer 38.6M shares of Class A common stock for holders Subscribe for More Information 16:47 EDT VNTV Vantiv files automatic common stock shelf for holders Subscribe for More Information 16:42 EDT VNTV Vantiv reports Q1 adjusted EPS 31c, consensus 30c Subscribe for More Information 15:35 EDT VNTV Notable companies reporting after market close Subscribe for More Information Sign up for a free trial to see the rest of the stories you've been missing.