Australia's Eumundi Group hits over 16-year high on takeover offer

Eumundi

30/10/2024 04:47

** Shares of Eumundi Group  EBG.AX  rise 26.98% to A$1.600,
their highest since March 2008
** Hotel chain operator says SEQ Hospitality Group to acquire co
in a proposed cash deal valued at A$1.55 per share; total deal
value was not disclosed
    ** The offer price represents a 23% premium as of the last
close
    ** Adds, as part of the deal co may declare an interim
dividend of up to A$0.024 per share
    ** Shares of co set for 4 sessions of consecutive gains, if
trend holds
    ** Stock posts its biggest intraday pct gain since early
February 2013
    ** Over 50,000 shares change hands, ~5x the 30-day avg
    ** Stock up 37% YTD, including current session, as at 0240
GMT

(Reporting by Kumar Tanishk in Bengaluru)
((mailto:Tanishk.Kumar@thomsonreuters.com;))