These were the best-performing shares on the ASX 200 last week

The Vocus Group Ltd (ASX:VOC) share price and the Nearmap Ltd (ASX:NEA) share price were two of the best performers on the ASX 200 last week…

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Last week the S&P/ASX 200 index returned from the long weekend in style. Over the period the benchmark index carved out a gain of 1.7% to climb to 6,554 points.

Whilst this was an impressive gain, a number of shares on the index performed even better. Here's why these shares were the best-performers on the ASX 200 last week:

Vocus receives another takeover approach.

The Vocus Group Ltd (ASX: VOC) share price was the best performer on the ASX 200 last week with a gain of 13.8%. The telco company's shares surged higher after it received a takeover offer from AGL Energy Limited (ASX: AGL). The energy retailer has made a non-binding, indicative proposal to acquire Vocus for $4.85 per share. It believes the acquisition could create material shareholder value and drive customer loyalty.

Ausdrill rebounds strongly.

The Ausdrill Limited (ASX: ASL) share price wasn't far behind with a gain of 13.2% last week. A week earlier the mining services company's shares came under pressure after announcing an impairment of up to $95 million in full year results. One broker that appears to believe this share price weakness was a buying opportunity is Deutsche Bank. It recently rated Ausdrill as a buy with a $2.04 price target. This price target implies potential upside of 36%.

Bingo out of the dumps.

The Bingo Industries Ltd (ASX: BIN) share price was a strong performer last week with a gain of 12.8% despite there being no news out of the waste management company. I suspect that bargain hunters may have swooped in to pick up shares after a sizeable decline year to date. Its shares were sold off in February after reporting a faster than expected softening in multi-dwelling residential construction activity across its key markets. Since then the company has completed the acquisition of Dial a Dump Industries, which is expected to give it some much-needed diversification and enhanced growth opportunities.

Broker note sends Nearmap higher.

The Nearmap Ltd (ASX: NEA) share price was a strong performer again last week with a gain of 12.2%. The catalyst for this gain appears to have been a positive broker note out of Morgan Stanley. According to the note, the broker has retained its overweight rating and $4.20 price target on the aerial imagery technology and location data company's shares following the launch of new products. The broker noted that previous product launches have generated a meaningful increase in demand for its services.

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Nearmap Ltd. The Motley Fool Australia has recommended Nearmap Ltd. 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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