Australia's Reject Shop rises on accepting Dollarama buyout

Dollarama

28/03/2025 24:14

** Shares of Reject Shop TRS.AX extend gains, rising as much as 0.3% to A$6.620

** Stock set for its best week, if gains hold

** The discount store on Thursday announced its buyout by Canadian peer Dollarama DOL.TO at A$6.68, a ~112% premium to stock's last close

** Jarden says bid has support of TRS' largest shareholder, Kin Group, and the Board, with unanimous recommendations for shareholders to vote in favour of the scheme

** DOL plans to expand TRS' current network of 390 stores to 700 by 2034 and has expressed confidence in creating shareholder value through this expansion - Brokerage

** Jarden downgrades rating to "neutral" from "overweight", and keeps TP in line with DOL's issue price of A$6.68

 (Reporting by Kumar Tanishk in Bengaluru)

 ((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk;))