Cincinnati-based Vantiv last month announced that it would acquire British payment processing giant Worldpay for over £7.7 billion, beating out a rival bid from J.P. Morgan. But it seems the auction "win" never included a formal bid, and the two sides have yet to settle on final terms.

  • Timeline: The deadline was supposed to be today, but Worldpay has granted a one-week extension. If no final bid is submitted, then there would be a 6-month cooling-off period (and perhaps an opening for JPM).
  • The hang-up: Reuters reports that a major sticking point is where the combined company will be based: "Worldpay wants to make the deal palatable to the British government, which has recently taken a more protectionist stance on takeovers by foreign acquirers."
  • Bigger picture: Protectionism (and its regulatory relatives) is becoming one of the year's major M&A storylines. China has been leading the way, cracking down on domestic acquisitions of foreign assets (here's the most recent). Yesterday came news that India plans to stop China's Fosun International from buying local drugmaker Gland Pharma for $1.3 billion. And there have been numerous stories about stepped-up CFIUS action – or inaction, which is effectively the same thing – here in the U.S.

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Updated 54 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 7 p.m. ET: 19,486,171 — Total deaths: 723,599 — Total recoveries — 11,822,887Map.
  2. U.S.: Total confirmed cases as of 7 p.m. ET: 4,989,976 — Total deaths: 162,304 — Total recoveries: 1,643,118 — Total tests: 61,080,587Map.
  3. Politics: Trump signs 4 executive actions on coronavirus aid.
  4. Public health: Fauci says chances are "not great" that COVID-19 vaccine will be 98% effective — 1 in 3 Americans would decline COVID-19 vaccine.
  5. Science: Indoor air is the next coronavirus frontline.
  6. Schools: How back-to-school is playing out in the South as coronavirus rages on — Princeton, Johns Hopkins, Howard to hold fall classes online.

Trump signs 4 executive actions on coronavirus aid

President Trump speaking during a press conference on Aug. 8. Photo: Jim Watson/AFP via Getty Images

President Trump on Saturday signed four executive actions to provide relief from economic damage sustained during the coronavirus pandemic after talks between the White House and Democratic leadership collapsed Friday afternoon.

Why it matters: Because the Constitution gives Congress the power to appropriate federal spending, Trump has limited authority to act unilaterally — and risks a legal challenge if congressional Democrats believe he has overstepped.

7 hours ago - World

What's next for Lebanon after the Beirut explosion

Photo: Houssam Shbaro/Anadolu Agency via Getty Images

Beirut residents are still clearing rubble from streets that appear war-torn, days after a blast that shocked the country and horrified the world.

Why it matters: The explosion is likely to accelerate a painful cycle Lebanon was already living through — discontent, economic distress, and emigration.