Business

Square shareholders back Afterpay takeover

Published

1 year ago

November 4, 2021

Square shareholders have approved new shares for the US company’s $29 billion purchase of AfterPay

The $39 billion takeover of Afterpay has cleared a key hurdle, after shareholders in the acquiring company Square approved the plan to snap up the ASX-listed buy now, pay later giant.

It brings Australia’s largest buyout a step closer to fruition.

The purchase by Square shows the growing popularity of an industry that has upended traditional consumer credit.

Afterpay says the first court hearing for the deal was expected later this week. The company believes the acquisition was likely to close in the first quarter of next year.

Its shareholders are set to receive nearly 0.4 of Square Class A stocks for each unit held.

The next stage will be for AfterPay shareholders to vote on a scheme of arrangement.

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Costa Haritos

Costa is a news producer at ticker NEWS. He has previously worked as a regional journalist at the Southern Highlands Express newspaper. He also has several years' experience in the fire and emergency services sector, where he has worked with researchers, policymakers and local communities. He has also worked at the Seven Network during their Olympic Games coverage and in the ABC Melbourne newsroom. He also holds a Bachelor of Arts (Professional), with expertise in journalism, politics and international relations. His other interests include colonial legacies in the Pacific, counter-terrorism, aviation and travel.

Business

Falling in love with stocks with Nick Quinn

Published

8 hours ago

March 28, 2023

ticker NEWS

On this week’s episode of Talk Ya Book, Chris Judd is joined by Spatium Capital’s Nick Quinn to discuss the why investors fall in love with stocks, when to sell and why three of his choices are performing strongly.

Proudly presented by Honan.

Business

Bank battering sees mess start to clean up

Published

12 hours ago

March 28, 2023

ticker NEWS

What will the future of the banking sector look like?

The once-mighty banking sector has taken a battering over the past month.

From two U.S. banks closing down, to one in Switzerland merging with its biggest rival, the sector has sent shockwaves throughout financial markets around the world.

And another European Bank could be following suit.

But, what will the future of the industry start to look like, once the mess has been cleaned up?

Founder and CEO of Umee, Brent Xu, joined us to discuss.