Visa to Boost Cash in Europe Pact, Deal May Be Delayed

Visa Inc. has agreed to amend the terms of its planned acquisition of Visa Europe Ltd., and said that the deal may not be completed until after the end of the buyer’s third fiscal quarter, which runs through June 30.

Instead of an earn-out, Visa will boost the cash consideration by 1.75 billion euros ($1.98 billion), with 750 million euros of that sum due at closing and the rest on the third anniversary of the completion of the deal, Foster City, California-based Visa said Thursday in a statement distributed by Business Wire.

(Corrects first sentence to show fiscal quarter ends June 30.)
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