Itâs no secret the ASX loves a takeover target, and these three shares have proven to be just that. Theyâve each been hurled acquisition bids on Friday and theyâre gaining as much as 26% on their suitorsâ attention.
Meanwhile, the broader market is in the red today. The All Ordinaries Index (ASX: XAO) is down 0.6% at the time of writing while the S&P/ASX 200 Index (ASX: XJO) has slumped 0.66%.
So, without further ado, letâs take a look at the ASX shares soaring on merger and acquisition activity on Friday.
3 ASX shares taking off on takeover attention
First off the bat, the Bigtincan Holdings Ltd (ASX: BTH) share price is soaring 12.5% to 76.5 cents right now after the company announced itâs received a takeover bid.
SQN Investors has offered 80 cents per share to snap up the AI-powered sales enablement automation platform provider. So far, the company hasnât accepted the proposal. It also noted SQN Investors isnât the only suitor to have shown its acquisition interest recently.
Joining Bigtincan in the takeover frenzy is Mayfield Childcare Ltd (ASX: MFD). The ASX childcare share is surging 25.9% to $1.215 on the back of its own takeover offer.
Its largest shareholder Genius Education Holdings has put forward a $1.28 per share bid.
Like Bigtincan, Mayfield Childcare will consider Genius Educationâs bid against other, albeit lower and more conditional, proposals to maximise shareholder value. In the meantime, however, it has granted its major shareholder exclusive due diligence.
Finally, today brought more news of the ongoing battle for control of Warrego Energy Ltd (ASX: WGO). Shares in the ASX gas explorer are to lifting 9.6% to trade at 28.5 cents right now.
Today, ASX 200 oil giant Beach Energy Ltd (ASX: BPT) upped its previous 20-cent per share bid for the company to 25 cents per share, plus any proceeds from the sale of Warregoâs Spanish assets.
Its improved offer comes after it was outbid by Gina Rinehartâs Hancock Prospecting. Hancock offered Warrego investors 23 cents per share earlier this week.
No doubt all eyes will be on the ASX takeover targets, and their share prices, in the coming weeks to see how the three acquisition offers progress.
The post 3 ASX shares soaring on takeover bids today appeared first on The Motley Fool Australia.
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More reading
- Guess which ASX All Ords tech share is soaring 12% on takeover news
- Warrego Energy share price rockets 80% in a month amid clash of the takeover titans
Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Bigtincan. The Motley Fool Australia has positions in and has recommended Bigtincan. 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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