Australia's Motio hits one-month high on takeover offer

Ive

21/09/2026 05:41

** Shares of Australian advertising company Motio MXO.AX rise as much as 15.4% to A$0.060, their highest since August 20
** Co says it has entered into a binding contract with IVE Group IGL.AX, under which IVE will acquire 100% of Motio's shares for 6 Australian cents per share in cash
** Deal values Motio at A$1.9 million ($1.35 million)
** The offer represents a premium of 15% to the stock's last closing price on September 18
** Motio's board unanimously recommends shareholders vote in favour of the scheme
** Adds, shareholders could also receive a dividend before completion if the company's net cash exceeds A$4 million
** YTD, stock up 7.3%   


($1 = 1.4029 Australian dollars)

 (Reporting by Paridhi Minda in Bengaluru)
 ((Paridhi.minda@thomsonreuters.com;))