Australia's Redhill Education eyes best day in over 3 months on buyout bid

EDU Holdings

22/02/2021 24:53

** Shares of educational courses provider Redhill Education
Ltd  RDH.AX  rise as much as 14.2% to A$0.925, marking their
biggest intraday pct gain since Nov 10
    ** Training co iCollege Ltd  ICT.AX  announces off-market
takeover offer for RDH  urn:newsml:reuters.com:*:nASX8tDNr9
    ** iCollege proposes to offer 6 shares in ICT for every
share in RDH, valuing Redhill at A$50.3 mln ($39.69 mln)
    ** RDH says its board is considering the offer
    ** Last month, RDH had rejected UCW Ltd's  UCW.AX  takeover
offer of 4.5 UCW shares for each RedHill share
    ** RDH hits highest since Jan 13; on track for a third
straight day of gains
    ** RDH down 4.7% YTD, as of last close

($1 = 1.2673 Australian dollars)

 (Reporting by Arundhati Dutta in Bengaluru)
 ((arundhati.dutta@thomsonreuters.com;))