January 13 - 10:01
Visa and Plaid terminate $5.3b merger agreement following antitrust lawsuit
Visa has terminated its $5.3 billion acquisition of data-focused fintech API startup Plaid after facing an antitrust lawsuit from the U.S Department of Justice. The deal was announced a year ago but the DOJ blocked it in November, stating that Visa is a "monopolist in online debit" and would eliminate Plaid's potential ability to compete in the online debit market. The DOJ has dropped the lawsuit.
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