Australia's Yellow Brick Road falls as Mercantile Investment says buyout offer is final

Yellow Brick Road Holdings

05/10/2018 02:42

** Shares of wealth management firm Yellow Brick Road
Holdings  YBR.AX  fall as much as 8.7 pct to A$0.105, its lowest
since Sept 27
    ** Mercantile Investment Co  MVT.AX  declares its A$0.09 per
share offer for co final and said it will not be increased or
extended  urn:newsml:reuters.com:*:nFWN1WK0YC
    ** In August, Mercantile made takeover bid for shares of co
that it did not already own at A$0.09 in cash per share
 urn:newsml:reuters.com:*:nL3N1VC1AQ
    ** In Sept, YBR advised shareholders to reject Mercantile's
offer on grounds that the offer was "grossly inadequate"
 urn:newsml:reuters.com:*:nL3N1VQ1SZ
    ** Stock posts biggest intraday pct fall since Sept 12
    ** Over 203,424 shares change hands, compared with 30-day
average of 168,736 shares
    ** Up to last close, stock had fallen 17.9 pct this year 

 ((Reuters Messaging:
Devika.Syamnath.thomsonreuters.com@reuters.net))