Australia's EQT Holdings soars on takeover bid, set for biggest one-day gain since 1985

EQT Holdings

18/08/2026 03:47

** Shares of Australia's EQT Holdings EQT.AX rise as much as 24% to A$21.460, logging their biggest intraday pct gain since 1985
** Stock logs its highest level since April 1
** Investment manager says it received a takeover proposal from U.S.-based brokerage firm TPG Global, LLC, valuing EQT at A$657.8 million ($467.56 million) 
** Co adds, bid is at an indicative price of A$24.55 per share in cash, representing a 41.8% premium to EQT's closing price on Monday
** Stock down over 10% this year, including the day's move
     
     
($1 = 1.4069 Australian dollars)

(Reporting by Rajasik Mukherjee in Bengaluru)
((Rajasik.Mukherjee@thomsonreuters.com))