Afterpay rises as Block's $29 bln buyout set to close after Spain's nod

Asia Pacific Telecom Co

12/01/2022 24:38

** Buy-now-pay-later giant Afterpay Ltd  APT.AX  rises as
much as 5.8% to A$77.75, its best intraday pct jump since Dec 22
    ** Co says https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02474792-3A585191?access_token=83ff96335c2d45a094df02a206a39ff4
 Block's  SQ.N  $29 bln buyout received approval from the Bank
of Spain, making the deal fully unconditional
    ** Afterpay https://www.reuters.com/markets/deals/afterpay-gets-shareholder-nod-block-inc-buyout-majority-proxy-votes-favour-deal-2021-12-13
 and Block https://www.reuters.com/technology/square-investors-approve-29-bln-buyout-afterpay-2021-11-03
 shareholders have already approved the deal with overwhelming
support
    ** The potential deal, the largest buyout ever of an
Australian firm, likely to be implemented on Feb 1
    ** APT shares to be suspended from ASX on Jan 19; new Block
shares to trade on NYSE on Feb 2
    ** Block, formerly Square Inc, ends 2.7% higher overnight
    ** APT down 11.4% this year, as of last close, vs a
marginally lower ASX 200 benchmark index  .AXJO  

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))