Visa Inc. and Plaid announced the termination of their $5.3 billion merger agreement after the US Department of Justice (DoJ) filed a lawsuit to block the deal in a move to preserve competition. Visa (V) said that following the termination, the DoJ decided to dismiss the litigation related to the proposed merger, which was first announced on January 13 last year. The DoJ filed a civil antitrust lawsuit on Nov. 5, 2020, claiming that Visa is a “monopolist in online debit, charging consumers and merchants billions of dollars in fees each year to process online payments.
https://www.tipranks.com/news/visa-plaid-pull-out-of-5-3b-merger-deal-after-us-regulator-steps-in