Australia's Humm Group slumps on ending takeover talks with Credit Corp

Credit

Mon 01:42

** Shares of Australia's Humm Group HUM.AX fall as much as 24.8% to A$0.44, post their biggest intraday pct drop since mid-February 2024
** Non-bank lender says it ended acquisition discussions with Australia's Credit Corp CCP.AX 
** Under initial proposal in December, Humm Group  shareholders were to receive A$0.77 per share in cash, a 16.7% premium to December 16 close
** Humm Group says it is not in the interests of shareholders to continue discussions
** Nearly 3.5 million shares change hands, 5.3x the 30-day average volume 
** HUM stock has fallen 32.9% so far this year, including session moves

 (Reporting by Roshan Thomas in Bengaluru)
 ((Roshan.Thomas@thomsonreuters.com;))