Square to buy Australia’s Afterpay in $29 billion all-stock deal By Reuters

© Reuters. FILE PHOTO: A emblem for the corporate Afterpay is seen in a retailer window in Sydney, Australia, July 9, 2020. REUTERS/Stephen Coates

(Reuters) -U.S. fintech firm Sq. Inc (NYSE:) mentioned on Monday it had agreed to buy Australian purchase now/pay later large Afterpay Ltd in an all-stock deal price about $29 billion.

Afterpay shareholders will get 0.375 shares of Sq. class A inventory for each share they personal, implying a worth of about A$126.21 per share primarily based on Sq.’s Friday shut, the businesses mentioned in a joint assertion.

The supply worth is a greater than 30% premium to Afterpay’s final shut and the Australian agency’s shareholders are anticipated to personal about 18.5% of the mixed firm.

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