Australia's Eumundi hits nearly 16-year high after SEQ Hospitality raises bid

Eumundi

16/12/2024 24:42

** Shares of real estate co Eumundi  EBG.AX  rise as much as
1.5% to A$1.705, their highest since March 3, 2008
    ** Co has received a revised takeover bid from SEQ
Hospitality for A$80.6 mln ($51.32 mln)
    ** SEQ has raised its offer price to A$1.62 per share from
A$1.55 per share
    ** Revised offer price represents a 38% premium to Eumundi's
30-day VWAP of A$1.17
    ** Stock had risen 43.6% this year, as of last close


($1 = 1.5706 Australian dollars)

 (Reporting by Nichiket Sunil in Bengaluru)
 ((Nichiket.Sunil@thomsonreuters.com))