Vidostream | News, sport and opinion from the Vidostream's US Edition

https://vidostream.com

Square to acquire Afterpay for $29bn as ‘buy now, pay later’ booms

Jack Dorsey’s deal in fast-growing fintech sector is largest in Australia’s history
Melbourne-based Afterpay gives customers the option to pay for products over four instalments © Reuters

Melbourne-based Afterpay gives customers the option to pay for products over four instalments © Reuters

Payments company Square has reached a deal to acquire Australian “buy now, pay later” provider Afterpay in a $29bn all-stock transaction that would be the largest takeover in Australian history.

Square, whose chief executive Jack Dorsey is also Twitter’s CEO, is offering Afterpay shareholders 0.375 shares of Square stock for every share they own — a 30 per cent premium based on the most recent closing prices for both companies.

Melbourne-based Afterpay allows retailers to offer customers the option of paying for products in four instalments without interest if the payments are made on time.

Read More (...)

Source: Financial Times

We are using cookies to give you the best experience on our website. By continuing to browse, you are agreeing to our Cookie Policy.
You did not use the site, Click here to remain logged. Timeout: 60 second