In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a small gain. At the time of writing, the benchmark index is up 0.3% to 7,097.2 points.
Four ASX shares that are climbing more than most today are listed below. Here’s why they are charging higher:
Brambles Limited (ASX: BXB)
The Brambles share price is up 11% to $11.59. This follows news that the logistics solutions company is having takeover talks with private equity giant CVC Partners. However, the company has stressed that it hasn’t received a proposal yet. Brambles also warned that there is no certainty that the discussions will lead to a binding proposal being received.
Core Lithium Ltd (ASX: CXO)
The Core Lithium share price is up 3% to $1.18. Investors have been buying this lithium developer’s shares following a strong night for lithium shares on Wall Street on Friday. For example, lithium giants Albemarle, Sociedad Quimica y Minera de Chile (SQM), and Livent Corp rose 7%, 9.5%, and 12.5%, respectively, during Friday’s session.
Infomedia Limited (ASX: IFM)
The Infomedia share price has jumped 28% to $1.64. This has been driven by the news that the automotive industry software company has received a takeover offer. According to the release, the TA Consortium has offered $1.70 cash per share. This represents a 32.8% premium to the Infomedia share price prior to its trading halt.
Qube Holdings Ltd (ASX: QUB)
The Qube share price is up 6% to $2.95. This morning the logistics company announced the completion of its off-market share buyback. Qube has bought back $400 million of shares at $2.59 per share. This represents 154 million shares, which equates to 8% of its shares outstanding. The buyback price comprises a capital component of $1.61 per share and a dividend component of 98 cents per share.