[March 18, 2008 update: Visa prices IPO at $44 a share, above expected range, raising a record $18 billion]
Based on the dire financial news reports, stock market turmoil – from Bear Stearns to soaring gold and other commodity prices and non-stop Federal Reserve interventions, we are thinking that the Visa IPO will not happen this week, or any time in the near future.
Let’s see who will be right – us or the thousands of gleefully greedy banks hoping to bailout and transfer partial ownership on an already battered investment community.
From this weekend’s broad-base of WayTooHigh.com readers and the page-viewed areas of interest – specifically about our Visa IPO commentaries – we still think the public offering will be canned or minimally, delayed.
We guess Visa’s public reason will be due to “market conditions,” but we can’t imagine investors ponying up to own a piece of a company that, according to their SEC filing could become insolvent if our merchant antitrust litigation is successful.
Recent Postings of Interest
key point: “Failure to successfully defend or settle the interchange litigation would result in liability that to the extent not covered by our retrospective responsibility plan could have a material adverse effect on our results of operations, financial condition and cash flows, or, in certain circumstances, even cause us to become insolvent.”
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