Australia's Appen tops benchmark index on $831 mln buyout offer from Canada's Telus

TELUS International (CDA)

26/05/2022 02:08

** Australia's voice-to-text converting software seller
Appen Ltd  APX.AX  jumps as much as 35%, hits highest level
since Feb 23
    ** Co says it received a non-binding buyout offer from
Canadian business process outsourcing firm Telus International
CDA Inc  TIXT.TO  for A$1.17 bln ($831.52 mln)  urn:newsml:reuters.com:*:nGLF1H5B9Y
    ** Telus' bid of A$9.50 for each APX share represents a
48.4% premium to Appen's closing price on Wednesday
    ** Stock currently up 29.1% at 0105 GMT, emerges as the top
gainer in the benchmark index  .AXJO 
    ** More than 2.3 mln shares change hands, compared with the
30-day average volume of about 810,000
    ** Stock down 42.7% this year, as of last close
     
    ($1 = 1.4071 Australian dollars)

 (Reporting by Jaskiran Singh in Bengaluru)
 ((Jaskiran.Singh@thomsonreuters.com;))