Australia's Silk Logistics eyes best day ever on DP World's takeover plan

Silk Logistics Holdings

11/11/2024 24:58

** Shares of Silk Logistics Holdings  SLH.AX  rise as much
as 42.2% to A$2.09, their best trading session to date
    ** Stock hits highest level since July 27, 2023
    ** Freight and logistics service provider to be acquired by
private firm DP World Australia in an all-cash deal valued at
A$174.5 million ($114.89 million)
    ** Silk shareholders to receive A$2.14 per share, a 45.6%
premium to SLH's last closing price of A$1.47
    ** More than 1.3 mln shares change hands, 16 times the
30-day avg of about 79,000 shares
    ** SLH up 12.2% YTD, including current session's moves
    

($1 = 1.5188 Australian dollars)

 (Reporting by Nikita Maria Jino in Bengaluru)
 ((Nikita.Jino@thomsonreuters.com;))