Australia's M8 Sustainable jumps most in nearly 3 mths on potential takeover bid

Adroit Infotech

25/01/2023 04:43

** Shares of M8 Sustainable Ltd  M8S.AX  rise as much as 25%
to A$0.01, their best day since Nov 3, if gains hold
    ** Waste recycle firm receives an unsolicited all cash
proportional off market takeover bid from Adroit Capital Group
ESG Pty Ltd  urn:newsml:reuters.com:*:nFWN3493YS 
    ** Says deal is to acquire 1 out of very 5 shares of M8S for
A$0.014/shr not currently owned by Adroit or associates
    ** M8S hits highest since Nov 29 
    ** More than 4.4 mln shares change hands, compared with the
30-day average volume of about 430,000 shares 
    ** Stock fell 46.7% in 2022
 (Reporting by Jaskiran Singh in Bengaluru)
 ((Jaskiran.Singh@thomsonreuters.com;))