Australia's Quickstep surges most in 11 years on takeover bid, contracts

Quickstep Holdings

06/11/2024 23:51

** Shares of Australia's Quickstep Holdings  QHL.AX  soar as
much as 43.6% to A$0.28, marking their biggest intraday pct jump
since mid-August 2013
    ** QHL, an aerospace and defence equipment maker, touches
its highest level since Oct. 23
    ** ASDAM Operations, an entity owned by Aussie private
capital manager CPE Capital, made A$28.7 mln ($18.85 mln)
takeover offer
    ** Offer price of A$0.40 per share is at a 105% premium to
QHL's last closing price of A$0.195
    ** QHL secures key negotiations with tier-1 defence
customers like Lockheed Martin  LMT.N  and Marand
    ** About 150,000 shares change hands, vs the 30-day average
of 58,179 shares
    ** QHL up 3.7% this year, including day's moves

($1 = 1.5225 Australian dollars)

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))