Australia's Symbio jumps on agreeing to buyout offer from Aussie Broadband

Symbio Holdings

01/11/2023 24:46

** Shares of cloud communications software firm Symbio
Holdings  SYM.AX  climb as much as 5.8% to A$2.910, posting
their biggest intraday percentage gain since Oct. 5 
    ** Co says it signed scheme implementation deed with Aussie
Broadband  ABB.AX  for the latter to acquire all of SYM's shares
    ** Says under the deal, SYM shareholders will receive A$2.26
in cash and 0.192 Aussie Broadband shares for each SYM share
    ** Says deal values SYM at A$3.01 per share 
    ** More than 995,000 shares change hands, compared with the
30-day average volume of ~260,560 shares  
    ** Stock up 76.3% this year, as of last close, vs a 3.7%
decline in the benchmark S&P/ASX 200 index  .AXJO  


 (Reporting by Roushni Nair in Bengaluru)
 ((Roushni.Nair@thomsonreuters.com;))