In morning trade the S&P/ASX 200 Index (ASX: XJO) is on course to start the week in a positive fashion. At the time of writing, the benchmark index is up 0.4% to 6,190.1 points.
Four shares that are climbing more than most today are listed below. Here's why they are storming higher:
Coca-Cola Amatil Ltd (ASX: CCL)
The Coca-Cola Amatil share price has jumped 15% to $12.37 after receiving a takeover approach from Coca-Cola European Partners. The largest independent bottler of soft drinks has tabled an offer of $12.75 cash per share. This values the company at approximately $9,282 million and represents an 18.6% premium to its last close price. A committee has reviewed the proposal and believes it is in the best interests of shareholders that Coca-Cola European Partners be granted due diligence.
CSR Limited (ASX: CSR)
The CSR share price is up 3.5% to $4.75. Investors have been buying the building products company's shares after they were upgraded by analysts at Credit Suisse. According to the note, the broker has put an outperform rating and $5.30 price target on CSR's shares. It believes industry data is pointing to big improvements in non-residential construction.
Link Administration Holdings Ltd (ASX: LNK)
The Link Administration share price is up 2% to $5.00. This morning the administration services company revealed that a consortium comprising Pacific Equity Partners, Carlyle Group, and their affiliates have returned with another takeover offer. The consortium has increased its non-binding indicative proposal by 20 cents to a cash price of $5.40 per share. This follows the rejection of its previous approach last week.
Qantas Airways Limited (ASX: QAN)
The Qantas share price has ascended 1.5% to $4.62. Positive COVID-19 data out of Victoria and a broker note out of Morgan Stanley appear to be the drivers of this gain. In respect to the latter, this morning the broker reiterated its overweight rating and $4.90 price target on the airline operator's shares. This implies potential upside of 6% from here.
