Australia's Redhill Education hits 2-week low as co rejects UCW's takeover offer

EDU Holdings

14/01/2021 03:03

** Shares of Redhill Education  RDH.AX  fall as much as 9.6%
to A$0.805, their lowest since Dec. 29, 2020 
    ** Co's directors unanimously recommended that Redhill
shareholders reject UCW Ltd's  UCW.AX  unsolicited, conditional
offer to take over the company  urn:newsml:reuters.com:*:nASX2KFTky
    ** In December, UCW offered to buyout RedHill for an
all-stock deal of 4.5 UCW shares for each RedHill share. 
    ** Stock on track for third straight session of decline 
    ** Stock up 4.7% this year, as of last close 

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