NSW Supreme Court approves Afterpay (ASX:APT) deal

Company News

by Lauren Evans

The NSW Supreme Court has approved Afterpay’s (ASX:APT) proposed takeover by Block, the US payments group formerly known as Square.

The buy now, pay later giant said the deal remains subject to approval from the Bank of Spain by 14 April next year. If approval from the Bank of Spain is obtained, the scheme will take effect without the need for further shareholder or court approval.

Both Afterpay and Square are confident that the Bank of Spain condition will ultimately be satisfied.

Shares in Afterpay (ASX:APT) are trading 6.9 per cent lower at $83.29. 

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.