At lunch on Tuesday, the S&P/ASX 200 Index (ASX: XJO) has followed the lead of US markets and is dropping. The benchmark index is currently down 0.1% to 7,371.5 points.
Here's what is happening on the ASX 200 today:
Afterpay shareholders vote in favour of takeover
The Afterpay Ltd (ASX: APT) share price isn't likely to be trading on the Australian share market for too much longer after its shareholders voted in favour of the Square takeover this morning. While the final vote has not yet been revealed, enough proxy votes were cast to clear the 75% hurdle. The deal now only requires approval from the Bank of Spain.
Woolworths shares crash
The Woolworths Group Ltd (ASX: WOW) share price has crashed lower today after the retail conglomerate released an update on its performance during the first half of FY 2022. That update revealed that Woolworths has had a challenging six months. Due largely to COVID related costs, Australian Food EBIT is expected to be $1,190 million to $1,220 million during the first half. This compares to FY 2021 first half (27 weeks) Australian Food EBIT of $1,329 million. In addition, BIG W is expected to post a big reduction in first half earnings.
CSL trading halt
The CSL Limited (ASX: CSL) share price is in a trading halt today. This morning the biotherapeutics company requested the halt so it could launch a capital raising. It is understood that CSL is aiming to raise US$4 billion to partly fund the acquisition of Vifor Pharm for upwards of US$12 billion (A$16.74 billion).
Best and worst ASX 200 performers
The best performer on the ASX 200 today has been the Charter Hall Group (ASX: CHC) share price with a 5.5% gain. This morning Macquarie retained its outperform rating and lifted its price target to $22.90 following yesterday's strong update. Going the other way, the worst performer has been the Mesoblast LImited (ASX: MSB) share price with a 16% decline. This morning Novartis terminated its agreement with the company that could have been worth US$1.2 billion.
