Australia's Dynamic Group soars on getting off-market takeover bid

BWE Drilling

26/07/2024 04:09

** Shares of Dynamic Group Holdings  DDB.AX  soar as much as
23.4% to A$0.290, highest level since July 10 
    ** Stock set for best day since mid July, if current gains
hold  
    ** The construction co acknowledges the receipt of an
off-market takeover bid by Australian Meat Industry
Superannuation, trading as Australian Food Super  
    ** Pension fund intends to make an offer for all shares of
DDB it does not own for A$0.28 per share 
    ** Australian Food Super currently has a 19.87% stake in
DDB, according to LSEG data
    ** Stock has risen 9.3% this year, as of last close

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