Australia's Pacific Current gains most in over 2 months after rejecting buyout proposal
07/09/2026 04:21
BUZZ-Australia's Pacific Current gains most in over 2 months after rejecting buyout proposal ** Shares of Australia's Pacific Current PAC.AX rise as much as 6.7% to A$11.8, their biggest intraday pct gain since June 26
** Stock at its highest level since August 28
** The asset management firm says it has rejected an indicative proposal from private investment manager Roc Partners in May as it was below its fair value
** Company says it would be open to considering revised proposals that provides its shareholders with cash consideration at a value that it believed was fair
** PAC expects to provide an update on its strategic review on or before November 12 that will include an assessment of the River Capital proposal, announced by the company on August 27
** PAC stock up 11.7%, YTD
(Reporting by Tejas Harish in Bengaluru)
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