Financial Wire

Visa Launches Exchange Offer for Class B-1, Class B-2 Shares

-- Visa (V) said Monday that it has launched an exchange offer for a combination of its class B-3 common stock, class C common stock, and cash consideration in lieu of fractional shares where applicable.

The exchange offer will expire May 8.

The company said that based on current conversion rates, each class B-1 share will be exchanged for approximately 0.2877 share of class C common stock. It also said each share of class B-2 common stock will be exchanged for approximately 0.1884 share of class C common stock.

Price: $303.84, Change: $-0.67, Percent Change: -0.22%

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