Tiger Brokers

BUZZ-Australia's Quickstep Holdings hits nearly 2-year high on buyout proposal

Reuters
Dec 20, 2024

** Aircraft component manufacturer Quickstep Holdings

rises as much as 41.8% to A$0.560, its highest level since late-Jan 2023

** Co enters into binding scheme implementation deed for its proposed acquisition by investment holding firm ASDAM

** Under the deal, QHL shareholders will receive A$0.575 for each share they own, representing a premium of 45.6% to the stock's last close

** Stock posts its biggest intraday pct gain since Nov. 7

** More than 1.5 mln shares change hands, 8.1x the 30-day avg

** Stock has more than doubled in value this year, including current session's move

(Reporting by Kumar Tanishk in Bengaluru)

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

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