Visa abandons $5.3 billion acquisition after DOJ objections

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There are no two ways about it, the deal falling through is a blow for Visa. Even before the pandemic pushed more people to online shopping, Plaid was a lucrative acquisition target. When the deal was first announced, Visa said one in four Americans had used the company’s technology. Startups like Robinhood, Coinbase and Gemini depend on Plaid’s API to allow users to connect their bank accounts to their apps.

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