The S&P/ASX 200 Index (INDEXASX: XJO) continued its momentum on Tuesday as the benchmark index climbed 56.10 points (+0.83%) higher.
The ASX 200 closed at 6,787.50 points after significant rebalancing throughout the day.
Traded volumes were elevated, while Healthcare led the winning sectors in Tuesday's trade.
1. Caltex shares rocket higher after takeover offer
The Caltex Australia Ltd (ASX: CTX) share price led the ASX 200 gainers on Tuesday after confirming a takeover proposal.
Caltex received an unsolicited, conditional proposal from Canadian convenience store multinational Alimentation Couche-Tard for 100% of its shares.
The offer price of $34.50 per share is a significant step up from its previous offer of $32.00 which was rejected by the Caltex Board.
Caltex shares rocketed 13.43% higher to $33.79 following the news to head the leaderboard on Tuesday.
2. Westpac CEO departure boosts WBC share price
Westpac Banking Corp (ASX: WBC) has parted ways with CEO Brian Hartzer in the wake of its AUSTRAC scandal.
Mr. Hartzer will receive a $2.7 million payout as he steps down from the role on 2 December. Westpac Chairman Lindsay Maxsted will also be stepping down and bringing forward his retirement to the first half of 2020.
Westpac is under fire for the extensive failure of its international money transfer systems.
AUSTRAC has launched proceedings against the bank for its failing, which allegedly facilitated breaches of anti-money laundering and counter-terrorism financing laws.
The ASX 200 stock closed 1.72% higher at $24.86 per share on Tuesday following news of the CEO's departure.
3. Bank of Queensland hammered after capital raising
Bank of Queensland Limited (ASX: BOQ) shares landed amongst the ASX 200 losers after emerging from a trading halt.
The bank's shares closed 5.79% lower at $8.14 per share after completing its $250 million institutional placement.
The offer price of just $7.78 per share saw investors head for the exit when the shares started trading again on the ASX 200 on Tuesday.
