Visa To Buy Visa Europe In Deal Worth Up To $23.4 Bln

By Victor ReklaitisMarketWatch Pulse

Payments giant Visa Inc. has reached a deal to acquire Visa Europe Ltd., the companies said in a news release Monday. The deal has a total value of up to €21.2 billion, or $23.4 billion, stemming from an upfront consideration of €16.5 billion and a potential for an additional earn-out of up to €4.7 billion payable following the fourth anniversary of closing, the release said. Reports last week said Visa was in advanced negotiations to buy its European counterpart for about $22 billion in a move that would unite Visa's global payments operations under one roof. Shares in Visa were up 0.4% on Monday in thin premarket trading.

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