JPMorgan Sees Gain of About $8 Billion From Visa Exchange Offer [BNN Bloomberg (Canada)]
JP Morgan Chase & Co. (JPM)
Last jp morgan chase & co. earnings: 4/14 06:43 am
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jpmorganchase.com/corporate/investor-relations/investor-relations.htm
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Source: BNN Bloomberg
The plan, announced last year, allowed JPMorgan to tender 37.2 million shares of Class B-1 common stock in Visa in exchange for a combination of Class B-2 common stock and Class C common stock, the bank said Monday in a filing. Visa said in September that it was working to amend a share structure implemented before its 2008 initial public offering. The unique structure — with three share classes — was designed to ensure that banks that owned Visa before the IPO would still be on the hook to cover costs arising from the firm's long-running litigation with major US merchants, including Walmart Inc. and Target Corp. JPMorgan said it plans to donate about $1 billion of Class C common stock to the JPMorgan Chase Foundation, prefunding its contributions to the institution for the next several years. The New York-based bank will book that as a non-compensation expense, according to the filing. Read More: Visa Takes First Step to Let Big Banks Sell $96 Billion of Stock Visa said in a
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JPM
Earnings
- 4/12/24 - Beat
JPM
Sec Filings
- 5/17/24 - Form 424B2
- 5/17/24 - Form 424B2
- 5/17/24 - Form 424B2
- JPM's page on the SEC website