Trading halted in Australia's Uniti Group after shares soar on takeover talks report

Uniti (Delaware)

15/03/2022 24:08

** Trading in Uniti Group  UWL.AX  shares halted after a
near 22% spike
    ** Broadband services provider's stock soars 21.6% to A$3.83
in its biggest intraday pct gain since March 2020 
    ** Local media reports UWL has entered exclusive talks with
an unnamed party for a potential sale
    ** The Australian https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=newssearch&cd=&cad=rja&uact=8&ved=2ahUKEwjo8NHj4cb2AhXNIbcAHdKLBiQQxfQBKAB6BAgDEAE&url=https%3A%2F%2Fwww.theaustralian.com.au%2Fbusiness%2Fdataroom%2Funiti-group-in-exclusive-talks-with-buyer-which-has-put-forward-an-offer-of-between-45-a-share-sources%2Fnews-story%2Fea7d3f7cd38f4e8cc4901a8d28489dfa&usg=AOvVaw0ATWing08mHHyOoMmEwQz7
 reports takeover offer likely be between A$4 and A$5 per share,
valuing UWL between A$2.75 bln ($1.98 bln) and A$3.44 bln
    ** UWL has not immediately responded to a Reuters request
for comment
    ** UWL stock has lost about 22.8% since early February;
shares hit their highest since Feb. 18 on Tuesday
    ** Stock top gainer in the ASX 200 benchmark index  .AXJO 
on Tuesday
    ** Down 29.2% this year, as of last close, vs a 4% decline
in the ASX 200 benchmark


($1 = 1.3891 Australian dollars)

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))