Zip CO (ASX:Z1P) - CEO, Larry Diamond
CEO, Larry Diamond
Source: Zip Co
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Buy now, pay later company Zip Co (Z1P) confirms it is looking to buy Sezzle (SZL), following media speculation
  • The two financial companies have confirmed discussions of a potential merger, however making it clear that a deal has not been made
  • The parties also made it clear that a deal might not happen
  • On the market today, Zip was up 3.35 per cent and is trading at $3.39 per share and Sezzle was up 20.8 per cent and trading at $2.59 per share

Buy now, pay later company Zip Co (Z1P) has confirmed it is looking to buy Sezzle (SZL), following media speculation.

The two financial companies have confirmed discussions of a potential merger, but made it clear that a deal has not been made and that there is no certainty there will be one.

“There is no certainty at this time that these discussions will result in a transaction,” Sezzle said in its statement to the market.

Zip and Sezzle will update the market if a deal is agreed.

“The Zip Board remains committed to ensuring any transaction delivers value to shareholders and will always be disciplined in its assessment of potential opportunities,” Zip said.

“It will only pursue transformational transactions that help accelerate the delivery of Zip’s broader strategic objectives such as enhanced scale in core markets, improved customer and merchant propositions and a faster path to profitability through significant synergy opportunities.”

On the market today, Zip was up 3.35 per cent and is trading at $3.39 per share and Sezzle was up 20.8 per cent and trading at $2.59 per share at 10:18 am AEDT.

Z1P by the numbers
More From The Market Herald
Countplus (ASX:CUP) - Incoming CEO, Hugh Humphrey

" Hugh Humphrey appointed CEO of Countplus (ASX:CUP)

Investment services company CountPlus (ASX:CUP) has appointed Hugh Humphrey as the company's CEO, effective July 1.

" ASX employee tests positive for Covid-19

The ASX says an employee has contracted Covid-19.

" ASIC launches official investigation into ASX market outage

The ASX has confirmed today it is officially under investigation from the Australian Securities and Investments…

" ASX sheds more light on last week’s market tech failure

The Australian Securities Exchange has shed some more light on the nature of last week's market…