Australia's MCS Services jumps on deal to buy traffic management assets provider

MCS Services

24/01/2022 03:50

** Shares of MCS Services Ltd  MSG.AX  rise as much as 2.9%
to A$0.071, highest since Nov. 5
    ** MCS, a security services provider, says it has signed a
binding term sheet to buy traffic management manpower and assets
provider in Western Australia, Highways Traffic Pty Ltd
 urn:newsml:reuters.com:*:nFWN2U208I
    ** MCS says purchase consideration A$1.8 mln ($1.29 mln) in
cash on settlement
    ** As of last close, company's shares up 9.5% pct this year

 ($1 = 1.3935 Australian dollars)

 (Reporting by Navya Mittal)
 ((Navya.Mittal@thomsonreuters.com))