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Afterpay Sale To Go Ahead; Strong Shareholder Support

Afterpay’s historical acquisition by Block (formerly known as Square) has been unequivocally approved by shareholders, in what will become the highest ever buy-out for an Australian company.

Close to 200 million shares have been voted supporting the deal, from almost 2,000 shareholders, with only 100,000 votes against – a success rate of 99.79 per cent of shareholders in favour of the deal.

“Subject to the receipt of approval by the Bank of Spain, this meeting heralds the close of this chapter on Afterpay as a stand-alone company. But the innovation, customer centricity, and desire to empower an economy where everyone wins will remain,” said Afterpay chair Elana Rubin.

Afterpay will now become part of Block, which is run by Twitter founder Jack Dorsey.

 



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