Visa Plans Successive Exchange Offer Amid Litigation Developments

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2026.02.13 14:14
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Visa Inc. announced on February 13, 2026, that it will proceed with a successive exchange offer for its Class B common stock, contingent on litigation-related conditions. This follows a previous exchange offer and is linked to declining interchange reimbursement fees, which fell from $49.6 billion in October 2023 to $39.4 billion in October 2025. The exchange will allow holders of Class B-1 and B-2 shares to convert into Class B-3 and Class C stock, potentially simplifying Visa's capital structure. Analysts rate Visa stock as a Buy with a price target of $372.00, despite some technical challenges.