Why Costa, Nufarm, Pilbara Minerals, and Symbio shares are charging higher

These ASX shares are having a strong finish to the week. But why?

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The S&P/ASX 200 Index (ASX: XJO) is on course to end the week with a decline. In afternoon trade, the benchmark index is down 0.35% to 7,040.1 points.

Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:

Costa Group Holdings Ltd (ASX: CGC)

The Costa share price is up 6.5% to $3.09. This morning, this horticulture company accepted a takeover approach from a consortium led by Paine Schwartz Partners (PSP). According to the release, the two parties have entered into a scheme implementation agreement for the acquisition of Costa by way of scheme of arrangement at $3.20 cash per share.

Nufarm Ltd (ASX: NUF)

The Nufarm share price is up 1.5% to $4.70. This appears to have been driven by a broker note out of Macquarie this morning. Its analysts have retained their outperform rating on the agricultural chemicals company's shares with a trimmed price target of $6.25. The broker believes the market is undervaluing the company's seed technology business.

Pilbara Minerals Ltd (ASX: PLS)

The Pilbara Minerals share price is up 5% to $4.19. This is despite there being no news out of the lithium giant. However, a number of lithium shares are rising on Friday. This could be a sign that some investors believe that recent weakness in the industry has created a buying opportunity.

Symbio Holdings Ltd (ASX: SYM)

The Symbio share price is up 18% to $2.65. Investors have been buying the cloud-based communication services provider's shares after it received an improved takeover offer from Superloop Ltd (ASX: SLC). Superloop's best and final offer is the equivalent of $2.91 per share, which is up from $2.85 per share previously.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Costa Group, Macquarie Group, and Symbio. 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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