For example, the three stocks listed below have all jumped over 30% in morning trade. But why are investors buying their shares? Let's find out.

Lion Energy Ltd (ASX: LIO)

The Lion Energy share price is up 80% to 4.5 cents. This follows news that it has obtained development approval from the State Assessment and Referral Agency (SARA), the relevant planning agency of the Queensland State Government, for its hydrogen generation and refuelling hub project in the Port of Brisbane.

Lion Energy's hub is geared towards heavy mobility fleets. It has an early focus on supplying hydrogen to domestic public bus fleets, truck fleets, and fuel cell gensets for the construction and mining industry. The facility will be one of the first of its scale in Queensland.

Peak Rare Earths Ltd (ASX: PEK)

The Peak Rare Earths share price is up 67% to 31 cents. This has been driven by the release of the final set of assay results from its critical minerals exploration program. This program is targeting the multi-commodity potential of the Ngualla carbonatite system.

According to the release, the ASX penny stock's assays from the Breccia Zone confirm outstanding high-grade thick intercepts of fluorspar. Management believes this supports the potential of a globally significant fluorspar deposit.

It also highlights that the prospectivity of the Breccia Zone is further enhanced by significant high-grade rare earth mineralisation, as well as elevated levels of niobium.

Sierra Rutile Holdings Ltd (ASX: SRX)

The Sierra Rutile share price is up 35% to 10.5 cents. This morning, the Africa focused mineral sands company announced the receipt of an on-market takeover offer.

According to the release, PRM Services has offered to acquire all of the ASX penny stock's shares that it does not own at a price of 9.5 cents cash per share.

The company has urged its shareholders to take no action and made the following statement:

Sierra Rutile shareholders who sell their shares to PRM Services on-market will be unable to participate in any increase in the offer price or any competing proposal should there be such an increase or any competing proposal is forthcoming.

PRM Services currently has an 11.46% stake in Sierra Rutile.

The post 3 ASX penny stocks exploding over 30% on big news appeared first on The Motley Fool Australia.

According to the release, the Federal Court of Australia has today made orders approving the scheme of arrangement under which Grand Pharma Sphere, an entity owned by CDH Genetech and China Grand Pharmaceutical and Healthcare Holdings, will acquire all the shares in Sirtex for $33.60 per share.

The next step for Sirtex will be lodging a copy of the Court order with the Australian Securities and Investments Commission tomorrow, after which the scheme will become effective.

Then what happens?

Management expects the company's shares to be suspended from the close of trade on Thursday.

After which, Sirtex shareholders on the share register on the scheme record date (Monday September 17) will be entitled to receive the cash consideration of $33.60 per share. This will then be paid on the implementation date, which is currently expected to be Thursday September 20.

What should you do with the funds?

If you're looking to reinvest these funds back into similar areas of the market then there are two shares that I think are worth considering right now.

Cynata Therapeutics Ltd (ASX: CYP) is a stem cell research company which I think has a bright future ahead of it. Its impressive Cymerus technology can source all of its cells from a single adult donor. Management believes this will increase clinical predictability and cut down on manufacturing costs. It also makes it a more commercially scalable stem cell technology.

Mayne Pharma Group Ltd (ASX: MYX) could be worth considering after the pharmaceutical company advised that the price deflation in the generic drugs market had finally eased. I believe improving market conditions and new product launches put the company in a strong position to return to growth this year.

The post Federal Court approves Sirtex Medical Limited (ASX:SRX) takeover: Where I would reinvest these funds appeared first on The Motley Fool Australia.

Sirtex yesterday reported NPAT of $41.5 million, underlying EBITDA growth of 23.4% to $75.9 million and marginal improvement in cash flow, although product revenue dropped 6.6% with dose sales also falling 5.7%.

The CDH-CGP offer for Sirtex follows on from a $1.6 billion offer by US company Varian which led to Sirtex paying out a $15.8 million break fee to Varian in July, which was reimbursed by CDH-CGP.

Sirtex's CEO said the previous Varian scheme and the ongoing CDH-CGP scheme had caused "uncertainty and distraction" with a shareholder meeting to vote on the CDH-CGP scheme on September 10.

Sirtex is among several other emerging shares who have doubled their value in 2018, with Nearmap Ltd (ASX: NEA) and Speciality Fashion Group (ASX: SFH) also on the list.

The post Sirtex Medical Limited (ASX:SRX) dose sales fall, takeover nears conclusion appeared first on The Motley Fool Australia.

Here is a preview of week five:

Monday.

This morning results are expected to be released from telco company Amaysim Australia Ltd (ASX: AYS), struggling child care operator G8 Education Ltd (ASX: GEM), fertility treatment company Monash IVF Group Ltd (ASX: MVF), and broadband equipment manufacturer Netcomm Wireless Ltd (ASX: NTC).

I'll be looking out for improvements in Amaysim's ARPU, G8 Education's occupancy levels, and trading conditions for Monash IVF. The market will no doubt be expecting a strong result from Netcomm Wireless after it delivered an impressive half year result which saw revenue rise 89% to $88.6 million.

Tuesday.

Three big results are due to be released on Tuesday from fast-growing tech star Appen Ltd (ASX: APX), health supplements company Blackmores Limited (ASX: BKL), and fuel retailer Caltex Australia Limited (ASX: CTX). According to the Bloomberg consensus estimate, the market is looking for NPAT of 70.7 million from Blackmores in FY 2018.

Elsewhere, I feel there's a reasonably strong chance that Appen will upgrade its full year guidance when it releases its half year results. I expect this to be driven by strong demand from the machine learning market and favourable currency movements.

Wednesday.

Wednesday is expected to be a busy day with releases pencilled in for game technology company Ainsworth Game Technology Limited (ASX: AGI), infant formula star Bellamy's Australia Ltd (ASX: BAL), building materials company Boral Limited (ASX: BLD), personal care products company BWX Ltd (ASX: BWX), telecom and cloud services company Macquarie Telecom Group Ltd (ASX: MAQ), regenerative medicine company Sirtex Medical Limited (ASX: SRX) and airline Virgin Australia Holdings Ltd (ASX: VAH).

According to the Bloomberg consensus estimate, the market expects NPAT of $45.7 million from Bellamy's. However, all eyes will be on its guidance and an update on its CFDA application.

Thursday.

It looks set to be a quieter day on Thursday with just three releases scheduled. These include struggling private hospital operator Ramsay Health Care Limited (ASX: RHC), casino operator Donaco International Ltd (ASX: DNA), and financial services company Perpetual Limited (ASX: PPT).

In respect to the Ramsay result, investors will be focused on its guidance for the year ahead and whether trading conditions have improved.

Friday.

The week finishes with results releases from plumbing parts company Reece Ltd (ASX: REH) and data centre operator NEXTDC Ltd (ASX: NXT). The latter is not expected to deliver a strong profit result due to its increased investment in its data centres to fuel future growth. But investors will be expecting the company to report a strong increase in demand for its data centre services to back up its substantial increase in capacity.

The post Earnings season week five preview appeared first on The Motley Fool Australia.

Fortunately, this hasn't stopped some shares from storming higher. In fact, the three shares listed below have just about doubled in value since the turn of the year.

Is it too late to invest?

The Nearmap Ltd (ASX: NEA) share price is up a remarkable 136% year-to-date. A good portion of these gains have come in the last week following the release of the geospatial map technology company's preliminary full-year results. That release revealed record portfolio growth for the 12 months ended June 30. Annualised contract value exceeded the company's guidance and reached $66.2 million at the end of FY 2018. This was an increase of 41% on the prior year and was largely the result of stronger than expected growth in the massive U.S. market. I think Nearmap is well worth a closer look after this result.

The Sirtex Medical Limited (ASX: SRX) share price has risen just a touch under 99% since the start of the year. The catalyst for this gain was a couple of takeover approaches for the regenerative medicine company from Varian and CDH Genetech. The latter appears to have been the victor and a deal appears to be nearing completion. If all goes ahead as planned, CDH Genetech will acquires all the shares of Sirtex Medical for A$33.60 per share, by way of a scheme of arrangement. This will take its year-to-date return to 103% upon completion.

The Specialty Fashion Group Ltd (ASX: SFH) share price has rallied an incredible 585% since the start of 2018. The fashion retailer's shares were heavily sold off in 2017 after a disastrous performance and a failed takeover approach. This had many in the market questioning its ability to continue as going concern. However, a successful structural review and the offloading of five retail brands to Noni B Limited (ASX: NBL) has investors bullish again. Especially as Specialty Fashion retained ownership of its City Chic brand, which was the most profitable brand in its portfolio with strong historical earnings growth and an attractive outlook. Despite the mind-blowing share price rise, I still think it is one of the better options in the retail sector right now after this review.

The post These ASX shares have doubled in value in 2018 appeared first on The Motley Fool Australia.

Will the local market be able to build on this on Wednesday? Here are five things that could shape the day's trade:

ASX futures pointing lower.

According to the latest SPI futures, the Australian share market is expected to open the day lower on Wednesday by 0.4% or 26 points. This follows a disappointing night of trade on Wall Street which saw the Dow Jones Industrial Average fall 0.5%, the S&P 500 drop 0.5%, and the NASDAQ index slide almost 0.9% lower.

Oil prices have been mixed.

Australian energy shares such as Beach Energy Ltd (ASX: BPT) and Oil Search Limited (ASX: OSH) will be on watch on Wednesday after a positive 24 hours for oil prices. Overnight West Texas Intermediate oil futures broke above the US$75 a barrel mark for the first time since November 2014. But while prices slipped soon after, according to Bloomberg, WTI crude oil is still up 0.3% to US$74.28 a barrel and Brent crude oil is 0.8% higher at US$77.89 a barrel.

Bellamy's broker note.

Organic infant formula company Bellamy's Australia Ltd (ASX: BAL) will be one to watch this morning after it was the subject of a broker note out of Goldman Sachs. Although the broker suspects that its CFDA accreditation could be delayed longer than expected, its analysts remain positive on its long-term outlook and have retained their buy rating. Goldman has, however, lowered its price target by 18% to $21.00.

Sirtex acquisition given the all clear.

The Sirtex Medical Limited (ASX: SRX) share price could head higher on Wednesday after the Foreign Investment Review Board gave the thumbs up to CDH Fund and China Grand Pharmaceutical and Healthcare Holdings acquiring the regenerative medicine company for $33.60 per share.

Worleyparsons hit by U.S. tax law changes.

Worleyparsons Limited (ASX: WOR) shares could come under fire today after the mining services company advised that it expects to take an additional charge to its income tax expense of approximately $20 million. This will bring the total charge for FY 2018 to approximately $78.2 million and will be excluded from its underlying earnings.

The post 5 things to watch on the ASX on Wednesday appeared first on The Motley Fool Australia.

Here's a short recap of the Australian market:

• S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) up 1.29% to 6,094.00
• ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) up 1.23% to 6,205.30
• AUD/USD at US 75 cents
• Gold at US$1,303.50 an ounce
• Brent Oil at US$75.68 a barrel

The best-performing ASX200 share today was Bellamy's Australia Ltd (ASX: BAL), it went up by 5.4%.

Another performer was resource service business Monadelphous Group Limited (ASX: MND), it increased by 5.8%.

Sirtex Medical Limited (ASX: SRX) went up 4.6% after finally accepting an offer for its business.

The BHP Billiton Limited (ASX: BHP) share price went up 0.5% today after announcing it would be investing US$2.9 billion into an iron ore project.

InvoCare Limited (ASX: IVC) shares went down 0.07% after announcing two acquisitions in New Zealand.

The share price of Magellan Financial Group Ltd (ASX: MFG) went up 4.8% with some of its main fund holdings going up in the US.

Retail Food Group Limited (ASX: RFG) shares dropped by 5.2%, making it the worst performer in the ASX200, it's about to be kicked out of the index.

Finally, Ausdrill Limited (ASX: ASL) dropped by a further 3.1% after giving the market a negative operations update earlier in the week.

Here are some of today's top stories:

• Macquarie Group Ltd (ASX:MQG) picks biggest winner from FIFA World Cup
• Top broker upgrades Bank of Queensland Limited (ASX: BOQ) for being "too cheap"
• Is it too late to invest in these high-flying ASX shares?

The post ALL ORDINARIES finishes higher Friday: 8 shares you missed appeared first on The Motley Fool Australia.

Four shares that are climbing more than most today are listed below. Here's why they are ending the week on a high:

The Bank of Queensland Limited (ASX: BOQ) share price has risen over 3% to $10.23 after being the subject of a positive broker note out of Credit Suisse. According to the note, the broker has upgraded the regional bank's shares to an outperform rating with an $11.40 price target. The broker feels that its shares have fallen to an attractive level and represent value for money for investors.

The Bellamy's Australia Ltd (ASX: BAL) share price has surged 5.5% higher to $17.11 despite there being no news out of the organic infant formula company. But with its shares down 7.5% this week prior to today's gain, I wouldn't be surprised if bargain hunters are swooping in to pick up shares on the cheap today.

The Class Ltd (ASX: CL1) share price has climbed 2% higher to $2.67 after being upgraded by analysts at UBS. According to the note, the broker has upgraded the fintech company's shares to a buy rating with an improved price target of $2.95. It believes Class could benefit from a quicker-than-expected shift to cloud-based SMSF accounting software.

The Sirtex Medical Limited (ASX: SRX) share price is up 4.5% to $31.01 after the regenerative medicine company announced that it has received an acceptable takeover offer from CDH Genetech Limited. The proposal has been amended to include both CDH and its strategic partner, China Grand Pharmaceutical and Healthcare. The bidders have offered $33.60 per share and fellow suitor Varian has notified Sirtex that it will not submit a matching or superior proposal.

The post Why these 4 ASX shares are ending the week on a high appeared first on The Motley Fool Australia.

Will the market be able to bounce back and have a strong finish to the week on Friday? Here are five things to watch:

ASX futures are pointing higher.

According to the latest SPI futures, the Australian share market is expected to open the day 34 points or 0.55% higher on Friday. This follows a reasonably positive night of trade on Wall Street. Although the Dow Jones Industrial Average fell 0.1%, the S&P 500 rose 0.25% and the NASDAQ raced 0.85% higher.

Australian dollar tumbles.

In response to rising rates in the United States the Australian dollar tumbled notably lower against the greenback on Thursday. At present the AUD/USD cross stands at 74.7 U.S. cents, approximately 1.7% lower than where it was prior to the FOMC meeting. This could be good news for companies that generate revenue in the United States such as Appen Ltd (ASX: APX) and Treasury Wine Estates Ltd (ASX: TWE).

Oil prices mixed again.

According to Bloomberg, oil prices were mixed on Thursday. The WTI crude oil price rose 0.5% to US$67.00 a barrel, whereas Brent crude oil fell 1% to US$75.95 a barrel. A hefty weekly decline in U.S. crude supplies led to WTI's rise, while concerns that OPEC will announce production increases at its meeting next week has weighed on Brent crude oil.

Sirtex takeover gets closer.

After the market closed on Thursday regenerative medicine company Sirtex Medical Limited (ASX: SRX) announced that it has received an offer capable of acceptance from CDH Genetech Limited. According to the release, the proposal has been amended to include both CDH and its strategic partner, China Grand Pharmaceutical and Healthcare. The bidders have offered A$33.60 per share and fellow suitor Varian has confirmed that it will not submit a matching or superior proposal.

Going ex-dividend.

The shares of Gentrack Group Ltd (ASX: GTK) could drop lower on Friday due to its shares trading ex-dividend this morning. Eligible shareholders can now look forward to receiving their 4.8 cents per share interim dividend on June 25. Elsewhere, shareholders of Elders Ltd (ASX: ELD) and Technology One Limited (ASX: TNE) are due to receive their respective dividends today.

The post 5 things to watch on the ASX on Friday appeared first on The Motley Fool Australia.

The Chinese alternative asset manager made a binding cash offer on Tuesday that confirms the previous indicative proposal announced by Sirtex on May 4 and values the target at $33.60 per share, less any dividend of up to 30 cents per share. This amounts to a total valuation of $1.9 billion.

The offer entails a significant premium on the company's May 3 closing price of $27.85, and is considerably higher than the competing bid from American cancer care company Varian, which offered $28 a share.

Varian's proposal received the support of Sirtex's board in January, resulting in a scheme implementation deed. This gives Varian the right to submit a counterproposal to the CDH bid, but yesterday the company made clear it doesn't intend to change its offer, which it believes remains superior.

Despite the lower price, Varian's bid does have some pros. It's already been endorsed by Sirtex's directors and received all necessary regulatory approvals, so it just needs shareholders' vote to become effective. CDH instead would still need to get the green light from the Foreign Investment Review Board (FIRB), and from regulators in the other countries where Sirtex operates.

Sirtex's board is considering the merits and risks of both proposals – including the offer prices, the risks, and timing to completion – and will recommend the offer in the best interests of shareholders. Pending the review, the board confirmed its unanimous support of the Varian scheme.

Amidst this uncertainty, Sirtex announced that in the first four months of 2018 sales declined 11% on the previous corresponding period. The company now expects FY18 underlying EBITDA at the lower end of the previously issued guidance of between $75 million and $85 million. At the time of writing, the stock is 4% down to $28.60.

Foolish takeaway

While CDH's proposal would still need to get all the regulatory approvals that Varian has already obtained, I think the Chinese bidder has an edge.

If regulators permitted the acquisition once, I don't see why they would deny it to CDH, and the offer price of $33.60 entails a 20% premium on the competing proposal, which is hard to ignore.

The post CDH Investments makes $1.9 billion bid for Sirtex Medical Limited (ASX:SRX) appeared first on The Motley Fool Australia.

Four shares that have fallen more than most today are listed below. Here's why they have fallen deep into the red:

The Myer Holdings Ltd (ASX: MYR) share price is down 5.5% to 44.5 cents. After the market closed on Tuesday the embattled department store operator released a response to recent criticism from Premier Investments Limited (ASX: PMV). The response doesn't appear to have been sufficient to convince some shareholders that things will improve under its new leadership.

The Oliver's Real Food Ltd (ASX: OLI) share price has plunged a massive 47% to 13 cents after the healthy fast food company released a trading update and profit downgrade. Due to weak trading and the underperformance of new stores, the struggling restaurant operator has downgraded its EBITDA guidance by between 31.3% and 37.5% just a matter of weeks after reaffirming it. While I think healthy fast food is a nice concept, I'm not convinced Oliver's will be able to pull it off.

The Santos Ltd (ASX: STO) share price has tumbled 9% to $5.86 after the energy producer rejected Harbour Energy's takeover approach and terminated discussions. The company's independent directors and managing director unanimously resolved to reject the proposal on the basis that that it does not represent the full value of the company and is not in the best interests of shareholders.

The Sirtex Medical Limited (ASX: SRX) share price has fallen 4.5% to $28.46 after the regenerative medicine company advised that Varian Medical Systems would not be coming back with a better takeover offer after CDH Genetech confirmed that its offer was now binding. Some shareholders may have been optimistic that a bidding war would commence.

The post Why these 4 ASX shares have fallen deep into the red today appeared first on The Motley Fool Australia.

Will Wednesday be an improvement for the benchmark index? Here are five things that could shape the day's trade:

ASX futures are pointing lower.

According to the latest SPI futures, the Australian share market is expected to open the day 4 points or 0.1% lower following a weak night of trade on Wall Street. The Dow Jones Industrial Average finished 0.7% lower, the S&P 500 was down 0.3%, and the NASDAQ was off 0.2%.

Royal Commission continues.

Westpac Banking Corp (ASX: WBC) took to the stands again on Tuesday. The Commission grilled the bank of its small business lending practices, finding its record keeping to be substandard. Australia and New Zealand Banking Group (ASX: ANZ) joined the party late on and will return to the stand this morning for further questioning.

Santos rejects Harbour Energy offer.

The Santos Ltd (ASX: STO) share price will be on watch on Wednesday after the energy producer rejected the US$5.21 per share (A$6.86 per share) takeover offer from Harbour Energy and terminated discussions. According to the release, the company's independent directors and managing director unanimously resolved to reject the proposal on the basis that that it does not represent the full value of the company and is not in the best interests of shareholders.

Sirtex receives a firm offer.

Regenerative medicine company Sirtex Medical Limited (ASX: SRX) also released an announcement after the market closed on Tuesday. It confirmed that CDH Genetech has made a binding offer of $33.60 cash per share, less any dividend declared by the board of up to $0.30 per share. This could be a great deal for shareholders. Sirtex also provided a trading update which revealed that dose sales have not met internal expectations. After being flat in the first half, worldwide dose sales for the period so far in the second half were down 10.6% on the prior corresponding period.

Dividends being paid.

Eligible shareholders of Speedcast International Ltd (ASX: SDA), Pro-Pac Packaging Limited (ASX: PPG), and Tox Free Solutions Limited (ASX: TOX) are due to receive their latest dividends today. Tox Free shareholders will be particularly happy as they are set to receive a special 58 cents per share fully franked dividend. That's the equivalent of a 17% yield for the soon to be delisted waste management company.

The post 5 things to watch on the ASX on Wednesday appeared first on The Motley Fool Australia.

Here's why their shares are halted right now:

Jatenergy Ltd (ASX: JAT)

This energy-cum-infant formula company's shares have been placed in a trading halt pending an announcement relating to the acquisition of a business. No further details have been provided, but an announcement is expected to be made on Wednesday. The company could potentially be looking to follow in the suit of its peers by acquiring a facility to manufacture its infant formula products. This would, however, be a costly exercise and likely mean it needs to raise funds to do so.

Oliver's Real Food Ltd (ASX: OLI)

This healthy fast food operator requested a trading halt while it prepares a trading update and revised earnings guidance for FY 2018. Its shares are expected to remain offline until the commencement of trade on Wednesday. Unfortunately I expect this to be an earnings guidance downgrade from Oliver's as it rarely takes this long to prepare an earnings upgrade. I'm not overly convinced on the viability of the Oliver's business model and would suggest investors stay clear if it is indeed a downgrade. Especially given how it was only six weeks ago that the company reaffirmed its guidance.

Sirtex Medical Limited (ASX: SRX)

This regenerative medicine company requested a trading halt this morning pending the release of an announcement on material developments in the proposal from CDH. Earlier this month the China-based alternative asset fund manager made an unsolicited non-binding, indicative and conditional proposal to acquire 100% of Sirtex for a cash price of $33.60 per share. As a result of this offer, the company postponed its scheme meeting related to its $28.00 per share offer from Varian Medical Systems. Shareholders will no doubt be hoping that Varian has come in with a better offer or that CDH's offer has become more concrete.

The post Why these 3 ASX shares are in trading halts appeared first on The Motley Fool Australia.

Going by data from S&P Global Market Intelligence (as at 18 May), Flight Centre Travel Group Ltd (ASX: FLT) has been the market's sixth-best performer to date, climbing 39.7% since the beginning of January. The past month has been favourable for investors as well, with shares up a little over 11% in that time.

A2 Milk Company Ltd (ASX: A2M) is having another standout year, as well. Although they have shed 9.9% in the past 30 days, the shares are still the fifth top performer from the ASX 200 cohort year-to-date, up 43%.

It's fellow infant formula producer Bellamy's Australia Ltd (ASX: BAL) has also had a rough 30 days, down 13.3%. But the shares have still managed to rise more than 65% in 2018, making it the third-best performer so far. Altium Limited (ASX: ALU), up 71.5%, and Nine Entertainment Co Holdings Ltd (ASX: NEC), up 51.1%, come in at number 2 and 4 for the year, respectively.

The top-performing share so far in 2018 is Sirtex Medical Limited (ASX: SRX). The shares have gained more than 80% year-to-date, rewarding those who remained patient though what was a rough 2016 and 2017.

The majority of Sirtex's gains came during January. At the time, the company received a takeover offer from Varian Medical Systems Inc at an offer price of $28.00 per share in cash. It marked a 49% premium to Sirtex's previous closing price of $18.83.

The company has since received a subsequent offer from CDH Investments at a price of $33.60 per share. Notably, the shares are trading at a discount to that price although there is no guarantee the proposal will result in a binding offer.

The post These 6 ASX shares are soaring in 2018 appeared first on The Motley Fool Australia.

The new, conditional bid has led to Sirtex adjourning its shareholder meeting so that it can consider the proposal. Director's fiduciary duties mandate that they must consider all options for maximising the value of shareholders, so the CDH Investments bid could lead to a delay in the Sirtex takeover process.

As we have reported previously, Sirtex is currently under a binding takeover offer from Varian Medical Systems, valuing Sirtex at $28 per share. The Sirtex Board has unanimously voted in favour, and the Foreign Investment Review Board (FIRB) announced that it had no objection to the takeover. The final step was to have shareholders vote on the arrangement.

However, the CDH bid has now thrown somewhat of a spanner in the works, by delaying the proposed shareholder meeting. Indeed, it's possible the bid may have been lobbed deliberately late, in an attempt to either frustrate Varian's attempt or try to achieve a stronger bargaining position for CDH.

There is a chance that the CDH bid goes through, and there could be an 'arbitrage' opportunity available (buy shares at $29 today and sell them at $33.60 if the CDH bid eventuates). However, it is far from a certainty that a higher bid will emerge – either from CDH or from Varian. CDH may just wish to get a look at Sirtex's books to better evaluate what it is worth.

In my opinion, shareholders should watch from the sidelines for now.

The post Windfall: Sirtex Medical Limited receives second takeover bid at $33.60 appeared first on The Motley Fool Australia.

Here's a short recap of the Australian market:

• S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) down 0.58% to 6,062.90
• ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) down 0.82% to 6,136.70
• AUD/USD at US 75 cents
• Gold at US$1,311.50 an ounce
• Brent Oil at US$73.50 a barrel

The best performer in the ASX200 today was WiseTech Global Ltd (ASX: WTC), the logistics company recently told the market that its revenue would be stronger in this financial year than previously predicted. The share price rose by 6.7%.

Sirtex Medical Limited (ASX: SRX) share price rose by 5.6% today after it received another takeover proposal.

Explosive company Orica Ltd (ASX: ORI) went up 3.3% today after confirming its environmental provision that was previously announced.

The Macquarie Group Ltd (ASX: MQG) share price finished the day up only 0.24% after revealing a record profit.

G8 Education Ltd (ASX: GEM) continued to ride the wave of positivity after its presentation to investors earlier this week, it went up a further 3% today.

However, ARB Corporation Limited (ASX: ARB) shares had a bit of a bingle after losing some of the gains it made earlier in the week after making its own presentation.

The worst performer in the ASX200 was APN Outdoor Group Ltd (ASX: APO), it fell 6.1% on no specific company news.

Finally, Nanosonics Ltd (ASX: NAN) went up by 1.2% after announcing its new device, trophon2, had been approved for Canada.

Here are some of today's top stories:

• Wealth Management Closing Down Sale! Everything Must Go!
• AMP Limited appoints ex-CBA CEO David Murray as its new Chairman
• Why the battle for BHP Billiton Limited's oil assets could be firing up

The post ALL ORDINARIES finishes lower Friday: 8 shares you missed appeared first on The Motley Fool Australia.

This is because this morning the three shares listed below have requested a trading halt. Here's why:

Kidman Resources Ltd (ASX: KDR)

This lithium miner has requested a trading halt while it prepares an announcement in relation to an update on development activities at its Mt Holland Lithium Project. Management has requested that its shares remain halted until the earlier of the release of an announcement or the commencement of trade on Monday May 7. At this stage it is unclear whether this will be a positive update or a negative one, but it is worth remembering that last month management advised of high level interest from various parties seeking lithium hydroxide offtake.

Queensland Bauxite Ltd (ASX: QBL)

This bauxite miner and medicinal cannabis company has requested that its share be suspended while it finalises the release of a material announcement relating to a significant and strategic acquisition by its subsidiary Medical Cannabis Limited. Management expects to release the announcement either later today or prior to the commencement of trade on Monday. Last month the company advised that Wesfarmers Ltd's (ASX: WES) Coles supermarket business is now selling hemp products provided by Medical Cannabis Limited.

Sirtex Medical Limited (ASX: SRX)

This regenerative medicine company has requested a trading halt "pending the release of an announcement on a recent material development which may affect the current Scheme of Arrangement" with Varian Medical Systems. Sirtex's shares are expected to be offline until Tuesday May 8. This morning SIrtex advised that by orders of the Federal Court of Australia, two class actions have been consolidated and will be set down for hearing commencing sometime in April 2019. I feel it would be a disaster for shareholders if Varian Medical Systems' $28.00 per share acquisition fell through.

The post Why these 3 ASX shares are in trading halts appeared first on The Motley Fool Australia.

For these 3 ASX stocks at 52-week highs, things are certainly looking pretty healthy on the share price front, but the reasons behind their rise may not always be as they seem.

Let's check out why these 3 S&P/ASX 200 shares are flying high.

Mantra Group Ltd (ASX: MTR)

Shares in Australian accommodation operator Mantra Group Ltd rocketed up to hit a 52-week high on April 23 with a closing price of $3.95.

Mantra shares are down slightly today to $3.94, but its share price has gone gangbusters since news broke Mantra is set to be taken over by Paris-based AccorHotels on May 23.

The Mantra takeover is a $3.96 per share scheme of arrangement which will see Accor become Australia's biggest hotel chain.

Accor already manages 212 hotels in Australia and 35 in New Zealand with Mantra holding more than 135 hotels across Australia, New Zealand and Indonesia.

The travel and tourism industry is booming across the board, with strong share price rises seen in related stocks such as Sydney Airport Holdings Pty Ltd (ASX: SYD), Flight Centre Travel Group Ltd (ASX: FLT) and Webjet Limited (ASX: WEB).

Those who made some cash out of Mantra are probably also well-versed on players like Crown Resorts Ltd (ASX: CWN) which is seeing some solid success in the integrated resort and entertainment space with Crown shares up 0.7% to $12.93 at the time of writing.

Sirtex Medical Limited (ASX: SRX)

Shares in biotechnology company Sirtex Medical Limited are up to $27.76 at the time of writing, a 52-week high for the stock and up 87% from its share price of $14.80 at this time last year.

Like Mantra, Sirtex has pushed higher this calendar year after receipt of a takeover offer from US-based Varian Medical Systems Inc.

Varian offered a 49% share price premium in its $1.6 billion takeover offer for the Australian cancer treatment developer.

The $28 per share cash offer came after a number of unsolicited takeover proposals in late 2017 after Sirtex suffered a $26.3 million full-year loss in 2016/17 after making a $90 million write down.

Varian is listed on the NYSE and develops radiotherapy and screening technology.

Sirtex distributes radiation therapy in more than 40 countries and more than 1000 hospitals.

Beach Energy Ltd (ASX: BPT)

Shares in oil and gas exploration company Beach Energy Ltd are up 1% at the time of writing to $1.53 after tracking upwards steadily from its share price of 72c at this time last year.

Beach's price surges are most likely off the back of overall oil prices rises but with expectations the oil price will head upwards significantly in the short term, more good news for Beach as well as peers Oil Search Limited (ASX: OSH) and Woodside Petroleum Limited (ASX: WPL) is likely on the cards.

And it's not just everyday investors who have been more interested in Beach lately, with its shareholder registry showing independent non-executive director Jocelyn Morton bought 50,000 shares back in March after only joining the board in February.

Beach reported a 7% drop in profit for its half-year results back in February but lifted guidance for FY18 for its Cooper Basin project and the stock should be on the watchlist of every growth investor seeking out under-the-radar commodity players, but be wary, oil prices are volatile, and share prices usually react in kind.

The post Why these 3 ASX shares are at 52-week highs appeared first on The Motley Fool Australia.

Here's a short recap of the Australian market:

• S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) up 0.25% to 6,037.70
• ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) up 0.18% to 6,146.50
• AUD/USD at US 80.7 cents
• Gold at US$1,341.49 an ounce
• Brent Oil at US$68.46 a barrel

The ASX indices have risen nicely today, inching away from the 6,000 barrier.

The biggest rise in the ASX200 today came from Sirtex Medical Limited (ASX: SRX), the share price rose by an enormous 45.78% on news that it could be acquired in a $1.58 billion deal.

Pharmacy companies Australian Pharmaceutical Industries Ltd (ASX: API) and Sigma Healthcare Ltd (ASX: SIG) also had excellent days today, rising by 4.17% and 4.07% respectively.

Treasury Wine Estates Ltd (ASX: TWE) finished the day up 0.71%, investors were mildly pleased with the company's half-year report.

Today wasn't a good day for energy and resource companies. The Beach Energy Ltd (ASX: BPT) share price was down 4.06% with the oil price down slightly. Lithium miners Pilbara Minerals Ltd (ASX: PLS) and Galaxy Resources Limited (ASX: GXY) are down 4.06% and 3.21% respectively on rumours that the lithium market could be oversupplied in the near future.

Credit Corp Group Limited's (ASX: CCP) share price has dropped further today after the market digested its half-year report.

Finally, imaging business Nearmap Ltd (ASX: NEA) rose by 4.35% after Morgan Stanley put an impressive price target on the business.

Here are some of today's top stories:

• Sirtex Medical Limited Board recommends takeover proposal
• ASIC slams financial planners. Are you being dudded?
• Revealed: Getswift Ltd reports revenues up 20% but cash receipts fall
• Credit Suisse warns these stocks will suffer in a "Bondcano" market meltdown
• Treasury Wine Estates Ltd delivers 37% profit growth: Should you invest?

The post ALL ORDINARIES finishes higher Wednesday: 9 shares you missed appeared first on The Motley Fool Australia.

The embattled apparel retailer is bucking the trend after it confirmed that it had received a number of non-binding, indicative takeover offers for the group or for parts of its business.

Management had hung a "for sale" sign on the group when it declared at its annual general meeting last year that it was restructuring the group and looking at all options to "improve shareholder value".

Speciality Fashion is in essence hoping for some "Sirtex magic". Liver cancer treatment company Sirtex Medical Limited (ASX: SRX) received a $1.6 billion takeover offer, which represents a 49% premium over its last traded price, after falling from grace and as the old guards (i.e. CEO and Chairman) exited the business.

The retailer has been a long-time underperformer and its long-standing chief executive Gary Perlstein had also recently announced his departure.

It is interesting to note that one of the potential suitors for Speciality Fashion is Mr Perlstein, although investors shouldn't get too excited just yet as a firm bid may be some ways off and it's anyone's guess what price bidders will be willing of cough up.

Specialty Fashion has also tried unsuccessfully to sell itself in the not too distant past.

Interest in the struggling retailer comes hot on the back of other potential corporate transactions at the smaller end of the market, which includes automotive services company AMA Group Ltd (ASX: AMA) – another consumer sector stock.

I am expecting more of such takeover rumblings in the retail industry as the sector looks ripe for the picking. The industry is under pressure and that means many will need to grow bigger in order to survive.

The beaten down valuations will also give better placed retailers, such as fellow apparel retailers Noni B Limited (ASX: NBL) and Premier Investments Limited (ASX: PMV), a lower cost and lower risk opportunity to grow their businesses.

Raising capital for value accretive transactions is also not an issue as investor risk appetite has come back with a vengeance and debt is still relatively cheap.

Other potential mergers in this sector that I have written about include Myer Holdings Ltd (ASX: MYR) and struggling department stores Target and Big W, which are owned by Wesfarmers Ltd (ASX: WES) and Woolworths Group Ltd (ASX: WOW), respectively.

But trying to pick the next takeover target is a dangerous game that retail investors shouldn't engage in. There are better opportunities in the market and the experts at the Motley Fool have uncovered three that are well placed to make a big splash in 2018 and beyond.

Click on the link below to get your free report and to find out what these stocks are.

The post Takeover targets springing up in retail sector prompts investors to bargain hunt appeared first on The Motley Fool Australia.