BUZZ-Australia's Maximus Resources jumps most in more than 2 years on buyout offer

Reuters
2024-12-30
BUZZ-Australia's Maximus Resources jumps most in more than 2 years on buyout offer

** Shares of lithium miner Maximus Resources MXR.AX surge as much as 42.2% to A$0.064, their highest since mid-August 2022

** Co says gold explorer Astral Resources AAR.AX to acquire firm in an all-share deal for A$0.07 per share

** Offer price represents a premium of ~56% to stock's last close

** Maximus Resources says AAR will acquire ~20% stake in MXR via a share swap with Beacon Minerals BCN.AX and others issuing ~40.8 mln of its shares

** More than 4.4 mln Maximus Resources shares change hands, 9.7x the 30-day avg

** Stock posts its biggest intraday pct gain since Jan. 11

** AAR slips 6.7% to A$0.140, posts its biggest intraday percentage loss since Dec. 20

** Maximus Resources stock up 72.4% YTD, while AAR has almost doubled in value

(Reporting by Kumar Tanishk in Bengaluru)

((Tanishk.Kumar@thomsonreuters.com;))

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