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Why these 4 ASX shares have started the week with a bang

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has started the week in disappointing fashion. In afternoon trade the benchmark index is down 1.2% to 6,113.4 points.

Four shares that have defied the market and climbed higher are listed below. Here’s why they are starting the week with a bang:

The Asia Pacific Data Centre Group (ASX: AJD) share price has jumped 8% to $2.02 after NEXTDC Ltd (ASX: NXT) announced that it has agreed terms with its data centre landlord to acquire the remaining 70.8% of its shares it does not own via an unconditional all cash, on market takeover bid. 360 Capital Group Ltd (ASX: TGP), which owns 67.3% of the company, has stated that it intends to accept the offer in the absence of a superior proposal. The deal values the data centre owner at approximately $230 million.

The Baby Bunting Group Ltd (ASX: BBN) share price has zoomed 5% higher to $2.53 following the release of a bullish broker note out of Morgans. According to the note, the broker has retained its add rating and increased the price target on its shares to $2.78. Morgans believes that Baby Bunting could emerge as a category killer following the closure of many of its key competitors.

The Medical Developments International Ltd (ASX: MVP) share price has rocketed 16% higher to $5.67 after announcing plans to expand its Penthrox pain management product into China. The healthcare company advised that it has entered into an exclusive distribution and license agreement with Japan-based pharmaceutical giant Daiichi Sankyo Company for Penthrox in China, Thailand, and Vietnam. The two parties will also enter into a master service agreement with Japan’s leading full clinical and regulatory service provider, EPS International, to get Penthrox approved for sale in China.

The MYOB Group Ltd (ASX: MYO) share price has stormed 18% higher to $3.52 after the accounting software company announced a takeover approach from private equity firm KKR. The firm is proposing to acquire all the MYOB shares it doesn’t own for $3.70 cash per share. The MYOB board has commenced an assessment of the proposal and will update the market when there’s something to report.

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Motley Fool contributor James Mickleboro owns shares of NEXTDC Limited. 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 Scott Phillips.

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