other material
confidence high
sentiment neutral
materiality 0.55
Visa exchange offer for Class B-1/B-2 expires; 122.5M shares tendered
VISA INC.
- 2.7M Class B-1 and 119.8M Class B-2 shares tendered, ~98% of outstanding combined.
- Visa will issue ~60.6M Class B-3 and ~23.3M Class C shares in exchange.
- Cash paid for fractional shares at $318.79 (NYSE closing price on expiration date).
- Approximately 55% of Class B-1 and over 99% of Class B-2 shares accepted.