Silk Laser Australia jumps on getting higher buyout offer from EC Healthcare

Solara Minerals

23/05/2023 02:10

** Shares of Silk Laser Australia Ltd  SLA.AX  rise as much
as 10.7% to A$3.320, their highest since March 30, 2022
    ** Co receives a competing, non-binding and indicative
takeover offer from EC Healthcare at an indicative offer price
of A$3.35 cash per share
    ** Offer price is at an 11.7% premium to SLA's last closing
price, and higher than A$3.15 apiece offered by Australian
Pharmaceutical Industries Pty Ltd (API) 
    ** Co says board has determined the EC proposal is superior
and has notified API
    ** Trading volumes 3.2 times the 30-day average of 130,336
shares
    ** As of last close, stock up 57.9% this year

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))