Xero share price halted amid $3.9b game-changing US acquisition
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The Xero Ltd (ASX: XRO) share price won’t be going anywhere today.
That’s because the small business cloud accounting platform provider has requested a trading halt this morning.
Why is the Xero share price in a trading halt?
Xero has requested a trading halt while it raises funds for a major acquisition.
According to the release, Xero has entered into a binding agreement to acquire 100% of US-based bill payments platform Melio for an upfront consideration of US$2.5 billion (A$3.9 billion), plus up to US$0.5 billion in contingent payments to employees over three years.
Melio is a fast-growing payments platform that is designed to help small businesses pay bills and manage accounts payable in the United…
