Why Bapcor, Botanix, Judo Capital, and Woodside shares are rising today

These shares are having a better day than most on Wednesday.

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The S&P/ASX 200 Index (ASX: XJO) is having another disappointing session. In afternoon trade, the benchmark index is down 0.65% to 7,705.1 points.

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

Bapcor Ltd (ASX: BAP)

The Bapcor share price is up a further 3.5% to $5.14. Investors have been scrambling to buy the auto parts retailer's shares this week after it received an unsolicited, indicative, conditional and non-binding takeover proposal from Bain Capital. This would see Bapcor shareholders receive $5.40 cash per share from the private equity giant. As things stand, the Bapcor board is currently considering the offer and has warned that "there is no guarantee that the Indicative Proposal put forward by Bain Capital will result in a binding offer or that any transaction will eventuate." The offer price is well short of Bapcor's 52-week high of $7.09, so some shareholders may feel short-changed if it is accepted.

Botanix Pharmaceuticals Ltd (ASX: BOT)

The Botanix Pharmaceuticals share price is up 2% to 28 cents. This morning, this clinical dermatology company announced that it has submitted the last label materials to the US Food & Drug Administration (FDA) for Sofdra. It is a pending prescription treatment for excessive underarm sweating. Management notes that label discussions are the final step for Botanix before the anticipated FDA approval of Sofdra. They have involved discussions with the FDA on product carton design and wording of information that is provided to patients and physicians about the product.

Judo Capital Holdings Ltd (ASX: JDO)

The Judo Capital share price is up 7% to $1.39. Investors have been buying this business lender's shares today amid news that it will be added to the ASX 200 index next week. After the market close on Tuesday, S&P Dow Jones Indices announced that it will replace building materials company CSR Ltd (ASX: CSR) when it is removed from the index week. Though, this remains subject to shareholder and final court approval of the scheme of arrangement which will see CSR acquired by Compagnie de Saint-Gobain.

Woodside Energy Group Ltd (ASX: WDS)

The Woodside Energy share price is up 2.5% to $27.73. This appears to have been driven by a broker note out of Macquarie this morning. According to the note, the broker has upgraded the energy giant's shares to an outperform rating with a $32.00 price target. Macquarie made the move on valuation grounds, believing that the market was valuing Woodside on a long term oil price significantly below even its own lower than consensus forecasts.

Motley Fool contributor James Mickleboro has positions in Woodside Energy Group. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Macquarie Group. The Motley Fool Australia has positions in and has recommended Macquarie Group. The Motley Fool Australia has recommended Bapcor. 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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