Australia's IVE Group hits over two-year high on potential acquisition of Ovato

Ovanti

10/08/2022 04:24

** Shares of advertising and marketing company IVE Group Ltd
 IGL.AX  climb as much as 6.4% to A$2.320, their highest since
Feb. 14, 2020
    ** Co enters implementation deed to progress negotiations
regarding a prospective acquisition of printing service provider
Ovato Ltd's  OVT.AX  assets (https://bit.ly/3bPjuWZ)
    ** Co says there are "strong arguments" to support
Australian Competition and Consumer Commission (ACCC) clearance
for the proposed deal
    ** Shares mark their biggest intraday pct gain since July 21
    ** As of last close, shares up 25.3% this year

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.Jain@thomsonreuters.com))