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:
Image source: Getty Images
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.
