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Square to acquire Australian-listed Afterpay in $29 billion deal

( August 2, 2021, 02:49 GMT | Official Statement) -- MLex Summary: US payment systems company Square has agreed to acquire Australian payment installment company Afterpay in a transaction valued at approximately $29 billion. The transaction is expected to close in the first quarter of 2022, subject to shareholder and regulatory approval. Square Inc. is listed on the New York Stock Exchange and includes Square, Cash App and music platform Tidal, with offices in Australia, Canada, Ireland, Japan, Norway, Spain, the UK and US. Afterpay is listed on the Australian Securities Exchange and is currently available in Australia, Canada, France, Italy, New Zealand, Spain the UK and US. Australia's competition regulator has been notified of the deal, with a spokesperson telling MLex it will consider the deal carefully once it has seen the details. The deal will also need approval from authorities including Australia's Foreign Investment Review Board, New Zealand's Overseas Investment Office, as well as regulatory approvals in Spain. The full joint announcement from Square and Afterpay is attached below. ...

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