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Visa Seals £247M Deal As UK Antitrust Agency Ends Probe

Law360, London (May 8, 2019, 6:21 PM BST) -- Visa said Wednesday that it has taken control of London-based Earthport in a £247 million ($322 million) deal after Britain’s antitrust watchdog dropped its investigation into whether the acquisition would hinder competition in the U.K.’s cross-border payments sector.

The Competition and Markets Authority said in a brief notice Wednesday that it decided the deal didn’t qualify for investigation under the merger provisions of the U.K.’s competition law.

Visa Inc., which made its bid for Earthport PLC in February after Mastercard Inc. tabled a £233 million offer, said Wednesday that it had acquired control of the London-based financial technology company. Earthport, which...

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