Australia’s S&P/ASX 200 (Index: ^AXJO)(ASX: XJO) and ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) indices finished higher on Monday.
Here’s a quick recap of the Aussie market:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) up 0.5%
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) up 0.5%
- AUD/USD at US 77.62 cents
- Gold at US$1,274 an ounce, up 0.1%
- Oil at US$49.29 a barrel, down 3%
Shares of Mantra Group, the hotels and resorts operator, jumped 16% higher today following an announcement that Accor S.A. is conducting due diligence and has made an indicative non-binding proposal of $3.96 per share. Mantra said the discussions are “incomplete” and a deal would be subject to a number of conditions.
Select Harvests, the almond producer, also announced a takeover offer today. It said Mubadala Investment Company PJSC had offered to acquire the company for $5.85 per share via a scheme of arrangement that was “non-binding, indicative and highly conditional”. Given the key terms of the proposed deal and a thorough review of its operations, the Select Harvest board concluded:
“These and other factors, taken together from a Select Harvests shareholder perspective, persuaded the Board not to engage in the Indicative Proposal at its headline value.”
Here are today’s top stories:
- Did Magellan Financial Group Ltd just score an own goal?
- Top broker says BHP Billiton Limited shares are a buy
- 4 dividend shares I want to buy
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The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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