UK Watchdog Probes Visa's Planned $5.3B Deal For Tech Co.
Law360, London (June 16, 2020, 5:55 PM BST) -- The U.K.'s competition enforcer said Tuesday it is launching an investigation into Visa's planned $5.3 billion bid to acquire financial technology company Plaid.
The Competition and Markets Authority said it is looking into whether Visa's latest strategic move would result in a "substantial lessening of competition" in the payments sector.
Visa announced in January it had agreed to acquire San Francisco-based Plaid, which connects fintech companies with their customers' bank accounts, in its latest tech-focused deal.
The move was Visa's latest effort to push into the fintech sector. The company had sought to ally itself with the new Facebook-backed cryptocurrency Libra, but it...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!