Australia's RedHill tumbles on ending discussions with UCW on takeover bid

EDU Holdings

25/06/2021 04:07

** Shares of educational courses provider RedHill Education
Ltd  RDH.AX  fall as much as 5.1% to A$0.750, hitting their
lowest level since Feb. 18
    ** Co says it has ceased discussions with peer UCW Ltd
 UCW.AX  on a takeover bid for co, as parties could not reach
mutually acceptable terms  urn:newsml:reuters.com:*:nASX9MYPhV
    ** UCW's offer consisted of 4.5 UCW shares for each share
held in RDH, which co had rejected in January this year on
failure to disclose certain information
    ** Adds UCW has informed co that it does not intend to
extend its offer; UCW's shares remain unchanged    
    ** RDH said it is considering an offer from training co
iCollege Ltd  ICT.AX  in February, which offered 6 shares in ICT
for every share in co, valuing RDH at A$50.3 mln ($38.18 mln)
 urn:newsml:reuters.com:*:nL4N2KS07B
    ** RDH stock set to lose 3.8% for the week, its biggest
weekly loss since May 7
    ** RDH has lost 7.1% this year, as of last close

($1 = 1.3173 Australian dollars)

 (Reporting by Yamini C S)
 ((Yamini.CS@thomsonreuters.com;))