DOJ files antitrust lawsuit challenging Visa’s $5.3 billion acquisition of Plaid
The Department of Justice has filed an antitrust lawsuit challenging Visa’s proposed $5.3 billion acquisition of Plaid , TechCrunch reports.
“By acquiring Plaid, Visa would eliminate a nascent competitive threat that would likely result in substantial savings and more innovative online debit services for merchants and consumers,” the DOJ wrote in its lawsuit.
In a statement, Visa said it “strongly disagrees” with the DOJ’s “legally flawed” arguments.
