Shares of Mexico's Axtel soar following announcement of takeover bid
BUZZ-Shares of Mexico's Axtel soar following announcement of takeover bid ** Shares of Mexico's Axtel AXTELCPO.MX rise to highest level since 2022 on Friday after takeover bid announcement.
** Axtel shares jump 16.3%, their strongest gain in about 4.5 years, to 3.5 pesos in morning trade.
** Late Thursday, Axtel announced it received a takeover bid offering from 4 Tech Plus for 3.86 pesos per Axel certificate.
** Today's gains add 1.4 billion pesos ($82.28 million) to company's market cap as the stock outperforms Mexico's main stock index .MXX, which is down 0.3%.
** The offer is being pursued by 4 Tech Plus, a vehicle controlled by Axtel Co-Chairman Tomas Milmo Santos alongside existing shareholders, and is subject to regulatory approvals.
** Shares of Controladora Axtel CTAXTELA.MX, the company's majority shareholder, rise 18.5%.
($1 = 17.0157 Mexican pesos)
(Reporting by Aida Pelaez-Fernandez and Noe Torres; Editing by Natalia Siniawski)