Visa to buy Visa Europe in deal that could exceed $23B

Visa plans to buy Visa Europe in a cash-and-stock deal that could be worth more than $ 23 billion.

The global payments processor says it will pay 11.5 billion euros ($ 12.66 billion) in cash upfront plus stock valued at about $ 5.5 billion. Visa Europe could earn an additional payment valued at nearly $ 5.2 billion from Visa Inc. if certain revenue targets are met during the 16 quarters following the deal.

Yahoo! Finance: Credit Services Industry News

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