• Saturday, 25 September 2021
*Meanchey Authorities warned to implement measures on truck that overflow sand on the road  *141 of the monks and the people living in pagodas found positive with Covid-19  *Take action on people without helmets and masks  *Kim Chou Guava plantations in Saang district tastes delicious and gaining customer support  *People still have 3 days off during the upcoming Pchum Ben festival, but must adhere to implement health measures  *Outcomes Of Virtual ASEAN-U.S. Foreign Ministers’ Meeting Released  *7,000 hectares of agricultural land in Banteay Meanchey province flooded by rain  *Boryakha Waterfall Resort in Pailin Province is an interesting place  *PM Calls For Understanding Over Suspension Of Kan Ben And Pchum Ben  *In battle of pumpkin spice vs. apple, one fall flavor has the edge 

Fintech company Square to buy Afterpay for US$29 billion as buy now, pay later booms

Fintech company Square to buy Afterpay for US$29 billion as buy now, pay later booms

SAN FRANCISCO - Square will buy Australia's Afterpay for about US$29 billion in an all-stock deal as the US fintech firm looks to leverage burgeoning popularity of buy now, pay later (BNPL) credit options.


The deal will create an online payments powerhouse and help accelerate Afterpay's growth in the key United States market as well as globally, the companies said on Monday (Aug 2). After pay been the bellwether of the niche online payments sector which burst into the mainstream last year as more people chose to pay in instalments for everyday items during the pandemic.


"Square and Afterpay have a shared purpose ... Together, we can better connect our Cash App and Seller ecosystems to deliver even more compelling products and services for merchants and consumers," Square chief executive Jack Dorsey said.


Afterpay shareholders will get 0.375 shares of Square class A stock for every share they own, implying a price of about AUS$126.21 per share based on Square's Friday close, the companies said. The offer is a more than 30 per cent premium to Afterpay's last close and the Australian firm's shareholders are expected to own about 18.5per cent of the combined company.


Afterpay's board has unanimously recommended the deal to its shareholders, the company said in the joint statement.


Source: Reuters





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