Visa plans to buy Visa Europe in a cash-and-stock deal that could be worth more than $23 billion.

Visa plans to buy Visa Europe in a cash-and-stock deal that could be worth more than $23 billion.

The global payments processor says it will pay 11.5 billion euros ($12.66 billion) in cash upfront plus stock valued at about $5.5 billion. Visa Europe could earn an additional payment valued at nearly $5.2 billion from Visa Inc. if certain revenue targets are met during the 16 quarters following the deal.