Australia's Thorn Group sees best day in over 6 months on takeover bid from Somers

Thorn

18/06/2021 01:58

** Shares of Thorn Group  TGA.AX  rise as much as 9.8% to
A$0.225, on track for their best session since Dec. 7, 2020
    ** Somers Ltd, a Bermuda-based investment holding co, made
an offer to acquire co at a price of A$0.21 per share in Thorn
group, implying a deal value of A$70.9 mln ($53.55 mln)
 urn:newsml:reuters.com:*:nASXbCqsj3
    ** The acquisition price represents a 2.4% premium to co's
last close of A$0.205 on Thursday 
    ** Stock hits highest since May 11 
    ** Stock up 2.5% this year, as of last close 

($1 = 1.3240 Australian dollars)

 (Reporting by Tejaswi Marthi in Bengaluru)
 ((tejaswi.marthi@thomsonreuters.com))