Visa commences exchange offer for class b-1 common stock

San francisco--(business wire)--visa (nyse:v) today commenced its previously announced initial exchange offer for any and all outstanding shares of its class b-1 common stock for a combination of visa's class b-2 common stock, visa's class c common stock and, where applicable, cash in lieu of fractional shares. in exchange for each share of class b-1 common stock validly tendered (and not withdrawn) and accepted for exchange by visa, a participating holder will receive: one half of a newly issu.
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