Australia's Tesserent more than doubles on takeover offer by Thales

Tesserent

13/06/2023 02:39

** Shares of Tesserent  TNT.AX  soar as much as 155% to
A$0.125, and on track to post their best day ever if gains hold
    ** Co says Thales Australia, a unit of Thales  TCFP.PA ,
will buy the company for A$176 mln ($118.71 mln)  urn:newsml:reuters.com:*:nFWN384240
    ** TNT shareholders will get A$0.13 per share in cash, a
165.3% premium to the last closing price of $0.049
    ** About 56.3 mln shares change hands, 17.8 times compared
with the 30-day average volume of 3.2 mln shares
    ** Stock hits its highest since Jan. 24
    ** Stock last up 144.9% at A$0.120, cutting YTD loss 7.7%

($1 = 1.4826 Australian dollars)

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))