Square investors approve $29 bln buyout of Afterpay

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The logo for Square, Inc. is seen connected the trading level astatine the New York Stock Exchange (NYSE) successful Manhattan, New York City, U.S., August 3, 2021. REUTERS/Andrew Kelly

Nov 4 (Reuters) - Square Inc (SQ.N) shareholders person approved the issuance of caller shares for the U.S. company's $29 cardinal acquisition of Afterpay Ltd (APT.AX), bringing Australia and the bargain now, wage aboriginal sector's largest buyout a measurement person to fruition.

The acquisition by Square, the payments steadfast of Twitter Inc (TWTR.N) co-founder Jack Dorsey, underlined the increasing popularity of an manufacture that has upended accepted user credit.

Afterpay said connected Thursday the archetypal tribunal proceeding for the woody was expected aboriginal successful the time and the acquisition was apt to adjacent successful the archetypal 4th of adjacent year.

Its shareholders are acceptable to person 0.375 of Square people A banal for each portion held, implying a terms of A$126.21 per stock astatine the clip of the announcement successful August.

Reporting by Nikhil Kurian Nainan successful Bengaluru; Editing by Aditya Soni

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