Banking, finance, and taxes
MasterCard & American Express Settle Litigation (MA, AXP)
Published:
MasterCard Incorporated (NYSE: MA) has just announced it has reached an agreement to settle its outstanding litigation with American Express (NYSE: AXP). The company says the tax-affected net present value of the settlement will be $1 Billion.
The agreement calls for 12 quarterly payments by MasterCard to American Express starting in Q3-2008 of $150 million per quarter. The payments are contingent upon the performance of American Express’s U.S. Global Network Services business.
MasterCard will take a charge for the settlement in the current quarter and it has noted that the maximum nominal amount of the settlement is $1.8 Billion.
Jon C. Ogg
June 25, 2008
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
