Visa and Plaid Abandon Merger After Antitrust Division’s Suit to Block
1–10 of 295 posts
Re: Visa and Plaid Abandon Merger After Antitrust Division’s Suit to Block
#2I think this was well played by the gov't, the idea of Visa and Plaid merging is really clearly going to reduce competition in the payments space
Re: Visa and Plaid Abandon Merger After Antitrust Division’s Suit to Block
#3It would have gone through had Visa's CEO not been so honest at the time of the merger announcement saying that they intended to use Plaid's data to get a leg up on their competitors.
> The DOJ cited Visa CEO Al Kelly’s description of the deal as an “insurance policy” to neutralize a “threat to our important US debit business.”
Re: Visa and Plaid Abandon Merger After Antitrust Division’s Suit to Block
#4I'm surprised by this. I used to work in Foster City.
The joke on the campus was that VISA stood for "Very Inconspicuous Spy Agency".
You'd think that there wouldn't be this kind of miscommunication in the chain of command.
All jokes aside, I'm very curious to check out Plaid now because I didn't pay attention when it was independent and Visa is a *very* smart organization, so Plaid must be something special.
Re: Visa and Plaid Abandon Merger After Antitrust Division’s Suit to Block
#5Whatever you think about Visa or this merger, this would be a major disappoint to Plaid's team members who thought they were in for a huge financial windfall.
If that applies to anyone here, my sympathies and best of luck figuring out what's next for Plaid. Hopefully the morale hit isn't too big on the team.
Re: Visa and Plaid Abandon Merger After Antitrust Division’s Suit to Block
#6That breakup fee is good $$$ though
Re: Visa and Plaid Abandon Merger After Antitrust Division’s Suit to Block
#7That Visa isn't fighting this should validate that the government's antitrust enforcement has been lax. For a merger valued in billions of dollars, hiring even the best lawyers for a long fight would have been a rounding error. The only way this happens is for Visa's lawyers to think that the government would likely win.
Re: Visa and Plaid Abandon Merger After Antitrust Division’s Suit to Block
#8Whatever you think about Visa or this merger, this would be a major disappoint to Plaid's team members who thought they were in for a huge financial windfall. If that applies to anyone here, my sympathies and best of luck figuring out what's next for Plaid. Hopefully the morale hit isn't too big on the team.
[deleted]
Re: Visa and Plaid Abandon Merger After Antitrust Division’s Suit to Block
#9It would have gone through had Visa's CEO not been so honest at the time of the merger announcement saying that they intended to use Plaid's data to get a leg up on their competitors. > The DOJ cited Visa CEO Al Kelly’s description of the deal as an “insurance policy” to neutralize a “threat to our important US debit business.”
Such a poor comment from Kelly that I almost wonder if it was intentional.
Re: Visa and Plaid Abandon Merger After Antitrust Division’s Suit to Block
#10Whatever you think about Visa or this merger, this would be a major disappoint to Plaid's team members who thought they were in for a huge financial windfall. If that applies to anyone here, my sympathies and best of luck figuring out what's next for Plaid. Hopefully the morale hit isn't too big on the team.
I wonder if employees with equity will see any portions of the breakup fees as some sort of bonus.