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Afterpay Notes on Acquisition Plans by Square

02 Aug 2021  |  07:37:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Square, Inc. announces plans to acquire Afterpay

Afterpay noted that Square and the Company announced that they have entered into a Scheme Implementation Deed under which Square has agreed to acquire all of the issued shares in the Company by way of a recommended court-approved Scheme of Arrangement. The transaction has an implied value of US$29bn (A$39bn) based on the closing price of Square common stock on 30 July 2021, and is expected to be paid in all stock. The acquisition aims to enable the companies to better deliver compelling financial products and services that expand access to more consumers and drive incremental revenue for merchants of all sizes.

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