Australia's Quickstep Holdings hits nearly 2-year high on buyout proposal

Quickstep Holdings

20/12/2024 02:17

** Aircraft component manufacturer Quickstep Holdings
 QHL.AX  rises as much as 41.8% to A$0.560, its highest level
since late-Jan 2023
    ** Co enters into binding scheme implementation deed for its
proposed acquisition by investment holding firm ASDAM
    ** Under the deal, QHL shareholders will receive A$0.575 for
each share they own, representing a premium of 45.6% to the
stock's last close
    ** Stock posts its biggest intraday pct gain since Nov. 7
    ** More than 1.5 mln shares change hands, 8.1x the 30-day
avg
    ** Stock has more than doubled in value this year, including
current session's move

 (Reporting by Kumar Tanishk in Bengaluru)
 ((Tanishk.Kumar@thomsonreuters.com;))