Australia's Sierra Rutile Holdings jumps on buyout bid

Sierra Rutile Holdings

20/03/2024 02:54

** Shares of Sierra Rutile Holdings  SRX.AX  rise as much as
37.8% to A$0.108, posting their record intraday pct gain
    ** Stock at its highest since March 5
    ** Natural rutile producer says it has received on-market
takeover offer from PRM Services LLC
    ** PRM Services had offered A$0.095 cash per share for all
SRX shares that it does not own
    ** About 6.4 mln shares change hands, 2.2x the 30-day avg
volume 
    ** Stock up for third consecutive session
    ** Stock down ~19% YTD, as of last close

 (Reporting by Neha Soni in Bengaluru)
 ((Neha.Soni@thomsonreuters.com))