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Visa sued by U.S. over antitrust concerns for Plaid acquisition

The U.S. Justice Department sued to block Visa’s $5.3 billion acquisition of Plaid over concerns that the deal would harm competition in the global payments market.

Video Transcript

- Want to bring you a little bit of breaking news here on Visa. Now Visa, remember, is set to acquire Plaid, a digital payment company, for $5.3 billion. However, the US Justice Department is now suing to block that acquisition over concerns the deal would hurt competition in the global payments market. So antitrust challenge to this.

Interestingly, Visa shares not really reacting to this. They were up 3% before this announcement, and now it looks like that they are up 3% now. So not, again, seeing any kind of big reaction to that news.