News: APT Afterpay Square, Inc. Announces Plans To Acquire Afterpay

Aug 2 (Reuters) - Afterpay Ltd (APT) :

• SQUARE, INC. ANNOUNCES PLANS TO ACQUIRE AFTERPAY-APT.AX
• TRANSACTION HAS AN IMPLIED VALUE OF APPROXIMATELY US$29 BILLION
• - TRANSACTION HAS AN IMPLIED VALUE OF APPROXIMATELY US$29 BILLION (
• CLOSING OF TRANSACTION IS EXPECTED IN Q1 OF CALENDAR YEAR 2022
• ACQUISITION EXPECTED TO BE PAID IN ALL STOCK
• CLOSING OF TRANSACTION IS EXPECTED IN Q1 OF CALENDAR YEAR 2022
• AFTERPAY SHAREHOLDERS WILL RECEIVE A FIXED EXCHANGE RATIO OF 0.375 SHARES OF SQUARE CLASS A COMMON STOCK
• SQUARE MAY ELECT TO PAY 1% OF TOTAL CONSIDERATION IN CASH
• SQUARE HAS AGREED TO ESTABLISH A SECONDARY LISTING ON AUSTRALIAN SECURITIES EXCHANGE
• BOARD HAS UNANIMOUSLY RECOMMENDED TRANSACTION TO AFTERPAY SHAREHOLDERS
• DEAL FOR IMPLIED TRANSACTION PRICE OF APPROXIMATELY A$126.21 PER AFTERPAY SHARE
• STOCK TRANSACTION IS INTENDED TO BE TAX-FREE TO AFTERPAY SHAREHOLDERS IN AUSTRALIA