S&P Dow Jones Indices announced today that it will remove Afterpay Limited (ASX:APT) from the S&P/ASX 200, as a result of the scheme of arrangement whereby the company will be acquired by Block, Inc (NYSE:SQ).
S&P Dow Jones Indices will remove Afterpay Limited from the S&P/ASX 200 effective prior to the open of trading on January 20, 2022. Afterpay Limited will be replaced by Block, Inc. CDIs (XASX: SQ2), in the S&P/ASX 200 effective prior to the open of trading on January 20, 2022.
Earlier this week, Block, Inc, formerly known as Square, Inc, received approval from the Bank of Spain in respect of the acquisition by its subsidiary Lanai (AU) 2 Pty Ltd of Afterpay.
Now that Bank of Spain approval has been received, the acquisition’s scheme of arrangement is fully unconditional and will be implemented without the need for further shareholder or Court approval.
As FNG has reported, the Scheme became legally effective in December 2021.