Deals
Visa Agrees to Buy Visa Europe for as Much as $23.4 Billion
- Deal includes upfront consideration of $18.2 billion
- Earnings miss estimates by 1 cent, company announces buyback
Visa Agrees to Buy Visa Europe for as Much as $23.4B
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Visa Inc., the world’s largest payments network, agreed to acquire Visa Europe Ltd. in a deal valued at as much as 21.2 billion euros ($23.4 billion) to unify the brand globally after eight years as separate companies. Visa shares fell in New York.
The transaction includes 16.5 billion euros upfront and as much as 4.7 billion euros more after the fourth anniversary of the deal’s completion, the firms said Monday in a statement. The purchase ends years of speculation among analysts about whether the companies, which split in 2007 ahead of the U.S. firm’s initial public offering, would reunite.