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VRRM - Verra Mobility News Story

$14.89 0.5  3.8%

Last Trade - 14/05/21

Sector
Industrials
Size
Mid Cap
Market Cap £1.71bn
Enterprise Value £2.23bn
Revenue £279.2m
Position in Universe 2051st / 6846

BUZZ-Australia's Redflex Holdings sees best day on $113 mln buyout offer

Fri 22nd January, 2021 12:53am
** Shares of Redflex Holdings Ltd  RDF.AX  more than double
following a buyout offer from U.S.-based smart mobility tech
firm Verra Mobility  VRRM.O 
    ** RDF shares climb as much as 121% to A$0.89 in their
biggest intraday pct jump ever, while VRRM shares fall more than
4% overnight
    ** Redflex enters https://bit.ly/2XYS0DQ scheme
implementation agreement with Verra for Verra to buy RDF at
A$0.92 per share, representing a 130% premium to RDF's last
close of A$0.40
    ** Deal for about A$146.1 mln ($113.42 mln)
    ** RDF board unanimously recommends the scheme
    ** RDF stock hits highest since Jan. 22, 2015
    ** More than 700,000 RDF shares change hands, compared with
the 30-day average of nearly 36,000 shares
    ** Stock flat so far this year, as of last close

($1 = 1.2882 Australian dollars)

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com;))
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