Australia's Adveritas surges on $33.1 mln indicative offer from U.S. firm

Integral Ad Science Holding

25/11/2022 01:07

** Shares of Adveritas Ltd  AV1.AX  rise as much as 32.9% to
A$0.105, their biggest intraday pct gain since April 9, 2020
    ** Online and mobile marketing solutions provider confirms
it received a conditional, non binding indicative proposal from
U.S.-based  descriptor  Integral Ad Science (IAS)  IAS.O  
    ** Adds proposal to acquire 100% of shares of co for A$0.11
per share - valuing AV1 at A$49 mln ($33.08 mln) - payable in
cash and/or shares in IAS
    ** Board intends to consider indicative proposal, will
proceed to a definitive agreement if it believes offer should be
presented to shareholders for approval
    ** Stock posts its highest since April 28; down 36.8% this
year as of last close
($1 = 1.4813 Australian dollars)
 (Reporting By Udbhav Krishna P in Bengaluru)
 ((UdbhavKrishna.P@Thomsonreuters.com))