Why Square Is Buying Afterpay for $29 Billion
Digital payments company Square (NYSE: SQ) announced on Aug. 1 that it intends to acquire the Australian financial-technology company Afterpay (OTC: AFTP.F) in an all-stock transaction worth about $29 billion. The deal was announced at the same time Square reported its second-quarter earnings, and Square stock jumped as much as 14% on the combined news.
However, while the market reacted positively, many investors seem to have concerns about the acquisition price. Let's see what may lie in store for these fintech darlings.
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Source Fool.com
