Australia's APM Human Services soars nearly 21% on sweetened buyout bid

APM Human Services International

28/02/2024 01:54

** Shares of APM Human Services International  APM.AX  jump
as much as 20.6% to A$1.70, hitting their highest since Nov 13
    ** Stock set for biggest gain since Feb 19, if gains hold 
    ** Employment services firm gets an improved buyout bid from
private equity firm CVC Asia Pacific that values the company at
A$1.83 bln ($1.20 bln)
    ** New offer of A$2.00 per share is nearly 25% higher than
the A$1.60 bid which APM rejected earlier; co grants four-week
period of exclusivity to CVC  
    ** Stock up 15.1% this year, as of last close

($1 = 1.5298 Australian dollars)

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))