Visa Abandons Planned Acquisition of Plaid After DOJ Challenge

  • 📰 WSJ
  • ⏱ Reading Time:
  • 6 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 6%
  • Publisher: 63%

United States News News

United States United States Latest News,United States United States Headlines

Visa is abandoning its $5.3 billion planned acquisition of fintech company Plaid in the face of a DOJ antitrust lawsuit that challenged the deal

Visa Inc. is abandoning its $5.3 billion planned acquisition of Plaid Inc., a key player in the financial-technology space, in the face of aThe department sued to block the deal in November alleging the acquisition would allow Visa to unlawfully maintain a monopoly in the online debit-card market.

Visa initially vowed to fight the government, and a trial was scheduled for June in a California federal court.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Why have they allowed Facebook become the biggest monopoly on the planet? currupt

Oh come on, guys. ‘Visa decides Plaid no longer in fashion’ was right there…

Monopolies not good & gov should do what can to keep from happening. OTH in capitalist society if ppl choose social media platforms to use or a service that works within their resources while satisfying them-must be careful not to simply demonize companies-working in free society

I used to own Visa stocks.

Who says we don't have a voice.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 98. in US

United States United States Latest News, United States United States Headlines