Visa Inc. Reaches Preliminary Agreement to Amend Transaction With Visa Europe
Instead of an earn-out, the cash consideration payable in the transaction will be increased by €1.75 billion: €750 million payable upon closing, and €1.0 billion, plus 4% compound annual interest, payable on the third anniversary of closing. The transaction remains subject to the negotiation of the definitive documentation of this amendment and regulatory approval. While the parties continue to work toward closing as soon as possible, closing could extend beyond the end of the Company’s fiscal third quarter.
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