Australia's Adbri climbs as Jarden raises PT after 'high quality' buyout offer

Adbri

19/12/2023 02:21

** Analysts at Jarden raise price target on Australia's
Adbri  ABC.AX  to A$3.20 from A$2.30
    ** Adbri shares rise 0.7% to A$3
    ** The construction materials firm said on Monday it is in
exclusive talks with CRH PLC  CRH.N  and Barro Group Pty for the
two companies to buy shares that Barro does not already own, in
a deal worth about A$2.1 bln ($1.41 bln)    
    ** Jarden considers this proposal as "a high quality, cash
offer"
    ** Analysts retain "neutral" rating on stock
    ** Adbri stock up 80.1% this year, as of last close 

   ($1 = 1.4894 Australian dollars)

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))