Square shareholders back Afterpay takeover
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.
Falling in love with stocks with Nick Quinn
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.
Bank battering sees mess start to clean up
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.
Disney to axe 7,000 jobs
The Mouse House will deliver two rounds of layoffs
Disney has announced it will begin to axe 7,000 jobs, as it seeks to control costs and create a more “streamlined” business.
Several major divisions of the company, including Disney Entertainment, Disney Parks, Experiences and Products, and corporate, will be impacted.
Disney will begin notifying the first group of employees who are impacted by the workforce reductions over the next few days.
A second, larger round of job cuts will happen in April, with several thousand more staff reductions.
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