Australia's Centrepoint Alliance surges on turning down buyout bid

Diverger

27/06/2022 02:21

** Shares of financial services provider Centrepoint
Alliance  CAF.AX  rise as much as 22.7% to A$0.270, marking
their biggest intraday percentage gain since February 2021 
    ** Says the A$31.8 mln ($22.00 mln) takeover offer from
accounting and wealth management firm Diverger Ltd  DVR.AX  does
not fairly reflect the strategic value of CAF  urn:newsml:reuters.com:*:nASX2s3QN7
 urn:newsml:reuters.com:*:nASX1cB2Gj
    ** About 1.2 mln shares change hands compared with a 30-day
average of 19,776 shares 
    ** Stock hits lowest since April 27 
    ** CAF is down ~15.4% this year, as of last close 


($1 = 1.4457 Australian dollars)

 (Reporting by Tejaswi Marthi in Bengaluru)
 ((tejaswi.marthi@thomsonreuters.com))