** Shares of Australia's Mayfield Childcare MFD.AX rise as much as 6.5% to A$0.495, their highest since January 13

** Embark Early Education Limited EVO.AX makes a takeover bid or all of the ordinary shares in Mayfield it doesn't already own

** EVO proposes consideration of A$0.50 in cash per Mayfield share, or ordinary shares in Embark with the ratio for the share consideration to be determined on the basis of $0.50 per Mayfield share

** The proposed consideration of A$0.50 in cash, represents a 7.5% premium to Mayfield's last close

** Stock down 1% YTD

(Reporting by Shruti Agarwal in Bengaluru)

((Shruti.Agarwal@thomsonreuters.com))