Australia's Vysarn plunges after terminating NewGround acquisition
14/09/2026 04:17
BUZZ-Australia's Vysarn plunges after terminating NewGround acquisition ** Shares of Australia's Vysarn Ltd VYS.AX drop as much as 18.3% to A$0.7800, marking their biggest intraday pct fall since November, 2024
** Water services provider's stock hits its lowest level since May 28
** Vysarn says it will no longer proceed with its planned acquisition of irrigation services provider NewGround after both parties agreed not to extend the completion deadline
** Co had announced in June a deal to acquire NewGround for up to 33 million Vysarn shares and A$25 million ($17.85 million) in cash
** The acquisition was expected to expand Vysarn's water services offering and diversify its revenue streams
** YTD stock up 22.1%
($1 = 1.4004 Australian dollars)
(Reporting by Paridhi Minda in Bengaluru)
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