Business
ASX 200 sinks, Xero reveals acquisition, ARB driven higher on Thursday 4 March 2021
The S&P/ASX 200 Index (ASX: XJO) fell by 0.8% today to 6,761 points.
There was another selloff in international markets, particularly with US tech shares. This caused a knock-on effect to the ASX share market.
Here are some of the main pieces of news:
The Xero share price ended the day lower by 2.6% despite announcing an acquisition that management were pleased with.
The ASX 200 tech company announced that it’s buying Planday for an upfront cost of €155.7 million, with 45% being paid in Xero shares and the rest in cash. Another €27.8 million could be paid based on product development and revenue milestones.
What does Planday do? It’s a…
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