Australia's Symbio eyes best day in nearly 6 months on Superloop's revised offer

Symbio Holdings

22/09/2023 02:42

** Shares of Symbio Holdings  SYM.AX  jump 19.1% to A$2.68
after Superloop's  SLC.AX  revised buyout proposal 
    ** Superloop shares flat, while Symbio's stock is on track
for its best day since April 27
    ** Superloop makes best and final non-binding indicative
offer valuing Symbio at A$2.91/shr, a 29.3% premium to last
close
    ** Offer also contemplates fully-franked dividend to Symbio
shareholders of up to A$0.35/shr
    ** Symbio up 44.2% YTD as of last close

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))