ASX 300 shares are trading down in afternoon trade on Friday with the S&P/ASX 300 Index (ASX: XKO) slipping 160 basis points to 7,470.
Despite the challenges on Australian markets today, three shares have topped their record highs today.
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Ramsay Health Care Limited (ASX: RHC)
Shares in Ramsay are climbing around 1% higher today, extending gains for the past week to 30%. Investors have been piling into the company after it confirmed a $20 billion takeover bid led by private equity giant KKR.
KKR will offer $88 per share in cash to purchase 100% of Ramsay. But there's more to the deal, according to TMF at the time:
Ramsay will also be allowed to pay shareholders a fully franked special dividend, which would reduce the offer price accordingly. This is so the healthcare giant can distribute all available franking credits to shareholders. Prior to its most recent dividend, Ramsay's franking account balance was a sizeable $823 million.
Ramsay is largely owned by retail investors, which could have implications on shareholder voting outcomes, a point that Mitch Lawller of TMF recently alluded to.
Since the news broke, the Ramsay share price has spiked more than 30% to nudge past its all-time high, last reached in 2016. So for long-term holders, it's been more than 5 years to break even from then.
Shopping Centres Australasia Property Group (ASX: SCP)
Shares in SCP have been working their way higher ever since the March selloff in 2020 that followed the pandemic.
In that time, the SCP share price has thrust off a bottom of $2.16 per share and now rests at $3.08 at the time of writing.
Right before the onset of COVID-19, SCP's share price had set off in a vertical uptrend that saw it run from $2.72 to $3.13 in less than a month.
Prompting gains was the management revising guidance upwards for funds from operations (FFO) per share in the company's recent half-year earnings.
It forecasts FFO per share of around 17.5 cents, an 18% gain year on year. It also intends to launch a new fund with $750 million in initial capital.
Since releasing its projections in February, the company has seen its share price extend a leg higher and it now trades at all-time highs as well.
John Lyng Group Ltd (ASX: JLG)
Another ASX 300 share marking new all-time highs today is Australia-based building services company, John Lyng Group.
The company's share price has been on a steady glide upwards over the last 12 months, setting a series of new highs and higher lows in the process.
At the time of writing, it trades at $9.23 apiece, after pushing to an intraday high of $9.34 per share and levelling off soon after.
John Lyng advised that it will lead the Government's $124 million flood recovery plan in Eastern Australia, adding to its already strong FY22 half-year results, according to previous TMF analysis.
That's got fund manager and listed investment company (LIC) WAM Research constructive on the stock, it said in recent disclosures.
The John Lyng share price has soared 134% in the last 12 months even after a difficult period this year to date.
