In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is pushing higher and breaking records. At the time of writing, the benchmark index is up 0.55% to 8,819.6 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are storming higher:
Infomedia Ltd (ASX: IFM)
The Infomedia share price is up 27% to $1.68. Investors have been fighting to get hold of this auto industry software company's shares today after it received and accepted a takeover offer from TPG Capital Asia. The private equity firm has tabled an offer of $1.72 per share, which is a 30% premium to its last close price. Infomedia's chair, Jim Hassell, said: "The Board considers that the proposal appropriately reflects the strength of Infomedia's platform, the execution of its strategy to date, and the growth opportunities it has created. While we remain confident in the long-term outlook for the business, the Scheme enables shareholders to realise full and fair value now, without the risks and uncertainties associated with continued execution as a standalone listed company."
News Corp (ASX: NWS)
The News Corp share price is up almost 7% to $56.19. This has been driven by the release of the media giant's full year results for FY 2025. News Corp reported a 2% lift in total revenue to US$8.45 billion and a 14% jump in total segment EBITDA to US$1.42 billion. This was driven by strong performances in Digital Real Estate Services, Dow Jones, and Book Publishing, which were partially offset by weaker contributions from the News Media segment.
REA Group Ltd (ASX: REA)
The REA Group shares price is up 6% to $253.12. Investors have been buying this property listings company's shares following the release of a strong full year result. REA Group posted a 15% increase in revenue to $1.673 billion and a 23% jump in net profit after tax to $564 million. Commenting on its outlook, CEO Owen Wilson said: "Australian property fundamentals remain strong, and expectations of further interest rate cuts are supporting buyer demand and steady house price growth. These are favourable conditions for sellers to bring their properties to market. Our increasing investment in talent, technology, and improved consumer experiences, positions REA Group for continued growth in FY26."
West African Resources Ltd (ASX: WAF)
The West African Resources share price is up 7% to $2.64. This follows the release of a production forecast update from the gold miner. Management advised that its production is set to peak at 569,000 ounces per annum in 2029. West African Resources' CEO, Richard Hyde, commented: "WAF's updated 10-year production outlook will see 4.8 million ounces of gold produced over the next decade, with production set to peak in 2029 at 569,000 ounces of gold. Our unhedged resources now stand at 12.2 million ounces of gold and Ore Reserves at 6.5 million ounces of gold."
