Visa's agreement to reunite with Visa Europe positions the global card brand to better address a world where payments and commerce have fewer borders.

Visa and Visa Europe separated in 2007 in anticipation of Visa Inc.'s IPO. The organizations have been in discussions about reunification in recent years, with Visa Europe's board having a perpetual put option to require Visa to purchase its outstanding share. Last week, reports leaked that a deal to reunify was imminent.

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