Ann: Square, Inc. announces plans to acquire Afterpay, page-348

Why? He wouldn't know - you don't think AFR and The Australian could confirm the rumour if some Zip bull analyst knew for sure?
Klarna might have bought a stake - but it's far more likely Zip holders are being taken for a ride on the long side this time rather than a 'short and distort' tactic for a change.
Buying 4% makes little sense - you either buy a material stake, announce it, everyone cheers and the value goes up, like Tencent with APT, or you just pick up the phone and chat to Larry Diamond because you're the CEO of Klarna and he's the CEO of Zip - you don't need to buy 4% of the company for that privilege.
I suppose all I'm saying is that this stinks of the US listing rumours from Feb.
And why would APT holders all suddenly move over to ZIP? They didn't buy the stock now, just because APT mergers doesn't necessarily any of them will want to buy Zip.