NSW Supreme Court approves Afterpay (ASX:APT) deal

The NSW Supreme Court has approved Afterpay’s (ASX:APT) proposed takeover by Block, the US payments group formerly known as Square.

The buy now, pay later giant said the deal remains subject to approval from the Bank of Spain by 14 April next year. If approval from the Bank of Spain is obtained, the scheme will take effect without the need for further shareholder or court approval.

Both Afterpay and Square are confident that the Bank of Spain condition will ultimately be satisfied.

Shares in Afterpay (ASX:APT) are trading 6.9 per cent lower at $83.29.