{"id":61510,"date":"2023-09-15T16:33:23","date_gmt":"2023-09-15T20:33:23","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/visa-stock-is-worst-dow-performer-a-possible-exchange-offer-is-why\/"},"modified":"2023-09-15T16:33:28","modified_gmt":"2023-09-15T20:33:28","slug":"visa-stock-is-worst-dow-performer-a-possible-exchange-offer-is-why","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=61510","title":{"rendered":"Visa Stock Is Worst Dow Performer. A Possible Exchange Offer Is Why."},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-BAR-0000744502\">\n<div data-layout=\"wrap\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          wrap\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--wrap\n    article__inset--lead\n  \"><\/p>\n<p>        <!-- eventually when we know what this card will be we can change it and leave this one --><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-wrap\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<div style=\"padding-bottom:66.66666666666666%;\" data-subtype=\"photo\" class=\"image-container  responsive-media article__inset__image__image\"><\/div>\n<\/figure><\/div>\n<p>\n        Visa<br \/>\n       stock is tumbling Thursday as analysts weighed in on the possible outcome of a potential exchange offer for shares held by banks.<\/p>\n<p>\n        Visa<br \/>\n       (ticker: V) announced after the market close Wednesday that the card company is in discussions with stockholders to possibly allow big banks to exchange up to half their shares of Visa\u2019s class B stock, which don\u2019t trade publicly, into class B-2 shares and C shares. The class C shares could then convert in class A shares and be sold, with certain restrictions. If the plan moves forward, holders of all class A, B, and C shares will have an opportunity to vote on the required amendments, Visa said. Class B shares are owned by domestic banks, while class C shares, which also don\u2019t trade publicly, are owned by non-U.S. banks.<\/p>\n<div class=\"paywall\">\n<p>Visa created a three-class common stock structure composed of Class A, B, and C shares with its 2008 initial public offering. The Class B stock was created to protect class A and class C holders from certain pre-IPO litigation.<\/p>\n<p>Morgan Stanley analyst James Faucette wrote in a research note Thursday that he believes the potential exchange offer would be \u201cadvantageous\u201d for all of Visa\u2019s stockholders.<\/p>\n<p>\u201cFor class A and C shareholders, the exchange would reduce the overhang related to the uncertainty of when and how class B shares eventually become converted and publicly tradeable float,\u201d Faucette said. <\/p>\n<p>Faucette rates Visa stock at Overweight with a $292 price target.<\/p>\n<p>Not everyone on Wall Street agrees. Jefferies analyst Trevor Williams rates Visa stock at Buy with a $280 price target, but wrote in a research note Thursday that he believes the exchange would create an overhang for the stock. <\/p>\n<p>Visa stock is falling 2.7% Thursday to $241.49. The stock was the worst performer in the<br \/>\n        Dow Jones Industrial Average<span>,<\/span><br \/>\n       and the second-worst performer in the<br \/>\n        S&amp;P 500<span>.<\/span>\n      <\/p>\n<p><strong><em>Corrections &amp; Amplifications<\/em><\/strong>:<\/p>\n<p>In Visa\u2019s Potential Exchange Offer program, participating Class B holders would exchange their stock for a combination of newly created Class B-2 shares and Class C shares. A previous version of the article incorrectly said that the offer would allow half of Visa\u2019s class B shares to be exchanged for class A shares.<\/p>\n<p>Write to Angela Palumbo at angela.palumbo@dowjones.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/visa-stock-dow-exchange-offer-b55a1692?mod=investing\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Visa stock is tumbling Thursday as analysts weighed in on the possible outcome of a potential exchange offer for shares held by banks. Visa (ticker: V) announced after the market close Wednesday that the card company is in discussions with stockholders to possibly allow big banks to exchange up to half their shares of Visa\u2019s [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":61511,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-61510","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Visa Stock Is Worst Dow Performer. A Possible Exchange Offer Is Why. | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Visa stock is tumbling Thursday as analysts weighed in on the possible outcome of a potential exchange offer for shares held by banks. 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