TD Cowen Starts Visa (V) at Buy, 'The Name You Know, And It Remains So'

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Go back to TD Cowen Starts Visa (V) at Buy, 'The Name You Know, And It Remains So'

Visa Commences Exchange Offer for Class B-1 Common Stock

April 8, 2024 9:05 AM EDT

SAN FRANCISCO--(BUSINESS WIRE)-- Visa (NYSE: V) today commenced its previously announced initial Exchange Offer for any and all outstanding shares of its Class B-1 common stock for a combination of Visas Class B-2 common stock, Visas Class C common stock and, where applicable, cash in lieu of fractional shares.

In exchange for each share of Class B-1 common stock validly tendered (and not withdrawn) and accepted for exchange by Visa, a participating holder will receive:

one half of a newly issued share of... More