Australia's Bigtincan climbs on confirming premium takeover offer

Bigtincan Holdings

22/05/2023 05:10

(Updates current moves, total deal value and trading volumes)
    ** Shares of software company Bigtincan Holdings  BTH.AX 
rise as much as 30%; pare some gains to trade 11% higher as of
0358 GMT - staying at a more than five-month high
    ** Co confirms it has received a confidential, non-binding,
indicative offer from Siris Capital Group at a price of A$0.80
per share, amounting to A$485.8 mln ($329.5 mln)
    ** Offer price represents a 60% premium to BTH's last
closing price
    ** BTH says it does not consider Siris' offer to be in best
interest of shareholders to progress with it at this time
    ** Trading volumes are 6.8 times the 30-day average of
754,146 shares as of 0358 GMT 
    ** As of last close, stock down 5.7% this year


($1 = 1.4743 Australian dollars)

 (Reporting by Himanshi Akhand and Archishma Iyer in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;
Archishma.Iyer@thomsonreuters.com))