Afterpay's logo is shown in this illustration taken August 2, 2021. REUTERS Dado Ruvic Illustration
Jan 12 Reuters -- Australian buy now, pay later firm Afterpay Ltd APT.AX said on Wednesday that Block Inc. SQ.N, previously known as Square Inc, has received approval from the Bank of Spain, making the deal fully unconditional.
The companies can now implement the deal, which would be Block's biggest to date and the largest buyout of an Australian firm.
Afterpay said the deal is likely to close on February 1. In December, its shareholders overwhelmingly voted in favor of the deal - 99.79% of the proxy votes were cast in favor. The deal was approved by the block investors in early November. The company said on January 19 that Afterpay shares will be suspended on the Australian stock exchange.