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Visa yesterday announced a global restructuring that will lead to an initial public offering of company stock in 12 to 18 months, a move designed to prevent the card association's bank owners from being targets of merchant class-action lawsuits over interchange.
Visa, the world's largest payments company with annual worldwide sales volume of more than $4 trillion, would move from being a card association owned by major banks to a stockholder-owned business able to respond more quickly to the globe's changing payments' landscape, Visa says.
As a publicly traded company, Visa may be able to improve its future legal posture in fighting merchant lawsuits over interchange, although it will…
Source: HighBeam Research, Visa Announces Plans to Conduct Own Stock IPO.