Square’s Deal Down Under
MarketFoolery
The Motley Fool
4.7 • 1.7K Ratings
🗓️ 2 August 2021
⏱️ 15 minutes
🧾️ Download transcript
Summary
Square buys Afterpay, the Australian payments company, for $29 billion in stock. Foot Locker buys two smaller athletic apparel retailers (WSS and Atmos) for a combined $1.1 billion. Jason Moser analyzes both acquisitions, as well as Square’s 2nd-quarter results.
Transcript
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| 0:00.0 | It's Monday, August 2nd. |
| 0:03.8 | Welcome to Marketfoolery. |
| 0:05.0 | I'm Chris Hill with me today, Mr. Jason Moser. |
| 0:07.5 | Good to see you. |
| 0:08.4 | Good to see you, how's everything? |
| 0:10.8 | Zings are hopping. |
| 0:12.4 | It's merger Monday. |
| 0:13.5 | Really, it's acquisition Monday. |
| 0:15.5 | We have one in the retail industry, |
| 0:18.0 | but we're going to start with the story of the day. |
| 0:20.5 | And that is Square, buying afterpay, |
| 0:23.4 | the Australian payments company, for $29 billion. |
| 0:27.6 | This is an all stock deal that Wall Street appears to love, |
| 0:31.6 | because shares of Square are up 11%. |
| 0:35.3 | Is that all surprising to you? |
| 0:36.9 | It's up 11%. |
| 0:38.7 | A little bit, but I think it's also worth remembering, too, |
| 0:41.3 | that with this release, they also release their quarterly |
| 0:44.1 | results. |
| 0:44.7 | And so I think they're probably as... |
| 0:47.5 | Maybe that is part where the enthusiasm is coming from, |
| 0:53.1 | because it was a very good quarter. |
... |
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