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Key Developments: Visa Inc (V)

V on New York Consolidated

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29 Apr 2016
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Latest Key Developments (Source: Significant Developments)

Visa Inc reaches preliminary agreement to amend transaction with Visa Europe
Thursday, 21 Apr 2016 04:04pm EDT 

Visa Inc:Response to feedback received from the European Commission, the Company and Visa Europe have reached preliminary agreement to amend their Transaction Agreement to eliminate the earn-out portion of the transaction consideration.The terms of the transaction remain otherwise unchanged.Instead of an earn-out, the cash consideration payable in the transaction will be increased by EUR1.75 billion: EUR750 million payable upon closing, and EUR1.0 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.  Full Article

Visa Inc declares quarterly dividend
Wednesday, 20 Apr 2016 04:05pm EDT 

Visa Inc:Declared a quarterly cash dividend of $0.14 per share of class A common stock.Payable on June 7, 2016, to all holders of record of the Company's class A, B and C common stock as of May 13, 2016.  Full Article

Visa Inc declares quarterly dividend
Friday, 5 Feb 2016 04:02pm EST 

Visa Inc:Board of directors declared a quarterly cash dividend of $0.14 per share of class A common stock (determined in the case of class B and class C common stock on an as-converted basis).Payable on March 1 to all holders of record of Company's class A, B and C common stock as of February 12.  Full Article

Visa Inc to acquire Visa Europe
Monday, 2 Nov 2015 06:01am EST 

Visa Inc:To acquire Visa Europe.Says deal valued at EUR 16.5 billion.Says deal has potential for an additional earn-out of up to EUR4.7 billion.Says the transaction will result from the exercise at the time of closing of a put option.Upfront consideration comprises EUR11.5 billion of cash and preferred stock convertible into Visa Inc class a stock valued at EUR5 billion.Says deal has a total value of up to EUR21.2 billion.Says expects transaction to be dilutive to fiscal full-year 2016 adjusted earnings per share in the low single-digit percentage point.Says Visa Inc intends to issue senior unsecured debt in an amount ranging between USD $15 and $16 billion in its fiscal first quarter of 2016.Says in conjunction with the transaction, Visa Inc will establish a long-term capital structure.Says both companies' boards were unanimous in their support of the transaction.Visa Inc expects one-time transaction costs of about USD $150 million including stamp duties to be incurred in fiscal full-year 2016.Cumulative integration related costs from deal expected to be about USD $450 million to $500 million through the end of fiscal full-year 2020.About $200 million in pre-tax cost savings are expected annually, largely realized by the end of fiscal full-year 2020 for Visa Inc.Says to buy Visa Europe for upfront cash consideration of EUR11.5 billion and preferred stock convertible into Visa class a stock valued at EUR5 billion.  Full Article

FireEye launches cyber intelligence service with Visa Inc
Tuesday, 13 Oct 2015 08:00am EDT 

FireEye Inc and Visa Inc:Says Visa threat intelligence is the first product available as part of new global strategic partnership between Visa and FireEye.New service will deliver real-time threat information to merchants and issuers.  Full Article

Australia court fines Visa Inc's arm $12.6 mln, cites anti-competitive conduct - Reuters
Thursday, 3 Sep 2015 08:00pm EDT 

Visa Inc:Australia's federal court has ordered a subsidiary of credit and debit card issuer Visa Inc to pay a fine of A$18 million ($12.55 million) for blocking a rival currency conversion service on its payment terminals - Reuters.The proceedings were brought by the Australian Competition and Consumer Commission (ACCC) - Reuters.The agency said in a statement that the domestic arm of Visa Worldwide infringed competition blocking a rival currency conversion service on its payment network between May and October 2010 - Reuters.The court also ordered that Visa pay the ACCC A$2 million in legal costs - Reuters.  Full Article

Visa Inc reaffirms FY 2015 outlook
Thursday, 23 Jul 2015 04:05pm EDT 

Visa Inc:Reaffirms FY 2015 outlook.Sees annual net revenue growth: Constant dollar revenue growth of low double digits, with an expectation of about 2.5 percentage points of negative foreign currency impact.Sees annual adjusted diluted class A common stock earnings per share growth: Mid-teens range.Sees FY 2015 annual adjusted diluted earnings per share growth assumes an adjusted basis for FY 2014.Reported revenue of $12.702 billion and EPS of $2.27 in FY 2014.FY 2015 revenue of $13.75 billion and EPS of $2.58 - Thomson Reuters I/B/E/S.  Full Article

Visa Inc declares quarterly dividend
Wednesday, 22 Jul 2015 04:05pm EDT 

Visa Inc:Declared a quarterly cash dividend of $0.12 per share of class A common stock.Payable on Sept. 01 to all holders of record of the Company's class A, B and C common stock as of Aug. 14.  Full Article

Visa and Verifone join forces to accelerate omni Commerce globally
Wednesday, 3 Jun 2015 09:20am EDT 

Visa Inc:Visa Inc. and Verifone join forces to accelerate omni Commerce globally.Partnership that will enable merchants to offer their customers a more streamlined, secure purchase experience.  Full Article

Visa Inc forecasts Q3 2015 profit below Street- Reuters
Thursday, 30 Apr 2015 07:39pm EDT 

Visa Inc:Forecasts profit below Wall Street expectations for Q3 2015, hurt by continued pressure from lower crude prices and a strong dollar - Reuters.Forecasts Q3 2015 EPS of 6-8 cents lower than analysts' expectations.Analysts on average are expecting the company to earn 65 cents per share, according to Thomson Reuters I/B/E/S.  Full Article

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Visa calls travel projections for Olympics 'reassuring'

Visa Inc is forecasting 400,000 to 500,000 international visitors to Rio de Janeiro in August, a projection one of its top marketing executives called "reassuring" given economic and health issues swirling around the August games in Brazil.

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