Australia's Thorn Group eyes best day in more than 10 months on takeover offer

Thorn

25/08/2023 04:27

** Shares of Thorn Group  TGA.AX  rise as much as 13.1% to
A$1.55 - set for best day since Oct. 5, 2022, if gains hold
    ** Stock hits its highest level since Oct. 18, 2022
    ** Diversified financial services co receives binding and
conditional acquisition proposal from Somers Ltd  
    ** Under proposal, Somers to acquire all shares in co it
does not already own at A$1.62 per share 
    ** Co says proposal at 18.2% premium to last close of A$1.37
    ** TGA up 20.2% this year, as of last close

 (Reporting by Shivangi Lahiri in Bengaluru)
 ((Shivangi.Lahiri@thomsonreuters.com;))