© Reuters. File photo: On July 9, 2020, the logo of the Afterpay company can be seen in a shop window in Sydney, Australia. REUTERS/Stephen Coates
(Reuters)-American financial technology company Plaza Company (New York Stock Exchange ticker:) said on Monday that it has agreed to acquire Australian buy-and-pay giant Afterpay Ltd in an all-stock transaction valued at approximately US$29 billion.
The two companies said in a joint statement that Afterpay shareholders will receive 0.375 Square A shares for each share held, which means that the price per share is approximately A$126.21 based on Square’s closing price on Friday.
The purchase price is more than 30% premium to Afterpay’s last closing price. It is expected that shareholders of this Australian company will own approximately 18.5% of the combined company.
Converged Media Fusion Media or anyone related to Fusion Media will not be liable for any loss or damage caused by relying on the data, quotations, charts, and buy/sell signals contained in this website. Please fully understand the risks and costs associated with financial market transactions. This is one of the most risky forms of investment.