HRL Holdings marks best day in over 7 years on buyout offer

ALS

28/06/2022 02:33

** Shares of HRL Holdings  HRL.AX  soar up to nearly 83% to
A$0.150, posting their sharpest gain since April 2, 2015
    ** Laboratory testing services provider says it got an
unsolicited, non-binding indicative offer from ALS Ltd  ALQ.AX 
 urn:newsml:reuters.com:*:nFWN2YE0XS
    ** Co says ALS seeks to buy co for A$0.16 cash per share
    ** HRL says discussions between the parties are preliminary
and there no certainty if co will accept the offer
    ** HRL hits highest since Feb. 27, 2020 
    ** About 3.4 mln shares have changed hands, compared with
the 30-day average of 90,376 shares
    ** ALS is down as much as 2.5% marking its worst intraday
session since June 17  
    ** HRL is down 28.7% this year, as of last close 

 (Reporting by Navya Mittal in Bengaluru)
 ((navya.mittal@thomsonreuters.com))