In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week in the red. At the time of writing, the benchmark index is down 0.25% to 7,793.7 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:
Boral Ltd (ASX: BLD)
The Boral share price is up 2.5% to $6.18. This follows news that the building products company could finally be taken over by Seven Group Holdings Ltd (ASX: SVW). This morning Boral accepted an improved offer from its suitor. It has offered 0.1116 Seven Group shares and $1.70 cash per share, together with a 30 cents per share fully franked dividend to all existing and new shareholders following completion of the offer. Boral's Bid Response Committee's has provided a "unanimous recommendation that Boral shareholders should accept SGH's takeover offer (Offer) or sell their Boral shares on-market."
FBR Ltd (ASX: FBR)
The FBR share price is up 4% to 2.7 cents. This morning, this robotics company announced that its shares have commenced trading on the OTCQB Venture Market on Wall Street. The structure provides U.S. investors with live-market access to OTC-listed securities during North American trading hours, in U.S. dollar denominated terms. Management made the move as it believes that FBR's planned activities in the U.S. will increase exposure and generate increased interest from U.S. domiciled retail and institutional investors. This listing on the OTCQB Venture Market means the company can improve accessibility to FBR for that investor base.
Origin Energy Ltd (ASX: ORG)
The Origin Energy share price is up 2% to $9.72. This has been driven by news that the energy giant is making a major renewable energy acquisition. Origin has entered into an agreement with Virya Energy to acquire its Yanco Delta Wind Farm for up to $300 million. The Yanco Delta Wind Farm is one of the largest and most advanced wind and energy storage projects in New South Wales. Management believes the acquisition will accelerate its strategy to expand renewable energy and storage in its portfolio. The purchase price comprises an upfront payment of $125 million and an additional variable payment of up to $175 million. The latter is conditional on the project achieving certain development milestones.
Regis Resources Ltd (ASX: RRL)
The Regis Resources share price is up 5% to $2.18. This has been driven by another rise in the gold price to a record high. This has lifted the whole sector. So much so, the S&P/ASX All Ordinaries Gold index is up over 1.5% in afternoon trade.
