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At lunch on Friday, the S&P/ASX 200 Index (ASX: XJO) has followed the lead of US markets and is pushing higher. The benchmark index is currently up 0.9% to 7,169.7 points.

Here’s what is happening on the ASX 200 today:

Appen share price crashes after takeover offer withdrawn

The Appen Ltd (ASX: APX) share price is crashing on Friday after Telus International withdrew its takeover approach. The offer was withdrawn without comment but appears to have been triggered either by the leak to the media or a poor trading update. Appen is currently holding a fiery annual general meeting and could receive a second strike to its remuneration report.

Battery materials shares rise

The battery materials sector has been performing strongly on Friday after risk sentiment improved. For example, the likes of Liontown Resources Limited (ASX: LTR) and Pilbara Minerals Ltd (ASX: PLS) are both recording gains of almost 5% at the time of writing.

Billionaire coal magnate exits Novonix board

The rampant buying in the battery materials sector has allowed the Novonix Ltd (ASX: NVX) share price to push higher despite the company announcing the exit of a key board member. Billionaire coal magnate Trevor St Baker AO has retired from the Novonix board with immediate effect. He is exiting the role due to excessive company board representations on behalf of the St Baker Energy Innovation Fund.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Friday has been the Pointsbet Holdings Ltd (ASX: PBH) share price with an 8% gain. This follows a strong session for tech shares on the Nasdaq overnight. Going the other way, the Appen share price is the worst performer with a 21% decline. This has been driven by its takeover collapse.

The post ASX 200 midday update: Appen crashes, lithum shares jump appeared first on The Motley Fool Australia.

More reading

• Appen share price crashes 25% after Telus withdraws takeover offer
• Novonix share price surges higher despite billionaire’s board exit
• Appen share price on watch amid takeover offer collapse
• 5 things to watch on the ASX 200 on Friday
• Here are the top 10 ASX shares today

Motley Fool contributor James Mickleboro 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 Appen Ltd and Pointsbet Holdings Ltd. The Motley Fool Australia has recommended Pointsbet Holdings Ltd. 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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The Galileo Mining Ltd (ASX: GAL) share price is soaring again today.

Shares in the ASX resource explorer closed yesterday at $1.41 and touched an all-time high of $1.95 this morning. At the time of writing, shares are trading for $1.92, up 36.2%.

This comes on the back of a stellar week, with the Galileo share price up 88% since Monday’s close on the back of a series of exciting drill results.

ASX investor interest looked to be piqued again today, by the report of more promising assays.

What new drill results were reported?

The Galileo Mining share price is off to the races once more after the company reported assays from a drill hole at its Callisto project in Western Australia had intercepted rhodium.

Rhodium is one of the most precious, and priciest, metals in the world. The current spot price is in the range of US$15,450 per ounce. And demand for the corrosion-resistant metal is expected to increase amid its use in vehicle pollution control systems.

According to the release, the assays at Callisto returned rhodium values up to 0.094 grams per tonne with average values across the 33-metre interval of 0.05 grams per tonne.

Callisto is the same project that sent the Galileo share price soaring yesterday when the company reported that six drill holes of its exploration campaign had confirmed the presence of palladium, platinum, gold, copper, and nickel.

Commenting on the latest positive results, Galileo’s managing director, Brad Underwood said:

The rhodium assays confirm the presence of this valuable metal within the Callisto mineralised system. With step out drilling expected to commence next week we will now be including rhodium in the assay suite for any further sulphide rich intersections…

We are excited to be starting drilling again so soon after the recent discovery announcement and look forward to updating the market with results as they become available.

The explorer plans to continue reverse circulation (RC) drilling on 2 June, weather permitting. It intends to drill 200 holes for approximately 4,000 metres of drilling.

Galileo Mining share price snapshot

The Galileo share price has rocketed an eye-popping 780% over the past month. Over that same month, the S&P/ASX 200 Index (ASX: XJO) slipped 1.2% lower.

The post Up 700% in 2022, why the Galileo Mining share price is leaping another 36% today appeared first on The Motley Fool Australia.

More reading

• 3 ASX mining shares going gangbusters on Thursday
• Galileo Mining share price surges another 25% on ‘very important’ drill results
• The Galileo Mining share price has been on a tear, but now it’s halted. What’s happening?
• Here’s why the Galileo Mining share price is up 13% today and 125% this week
• The Galileo Mining share price has rocketed 380% in a week. But this billionaire is still buying up big

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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The Westpac Banking Corp (ASX: WBC) share price is pushing higher on Friday.

In morning trade, the banking giant’s shares are up almost 1% to $24.10.

Where next for the Westpac share price?

According to a note out of Goldman Sachs, while its analysts aren’t recommending the bank’s shares as a buy, they do see significant upside potential for them.

The note reveals that this morning the broker has retained its neutral rating and $27.29 price target.

Based on the current Westpac share price, this implies potential upside of 13% for investors. And if you include dividends, the return stretches to approximately 18%.

What did the broker say?

Goldman highlights that Westpac has agreed to merge its BT Fund Management’s personal and corporate superannuation funds with Mercer Super Trust and sell its Advance Asset Management business.

The broker notes that these transactions are consistent with its simplification strategy and expect them to boost its CET1 ratio. It said:

We view these transactions as entirely consistent with WBC’s strategy of simplifying the overall group, and we note that at the time of its 1H22 result, WBC noted other assets sales that have been announced but not yet finalized would add a further 16 bp to WBC’s CET1 ratio.

Post this transaction, operations that remain within the Specialist business and are under review to potentially being sold include the platforms business (i.e. Panorama) and Westpac Pacific, the latter which WBC had previously attempted to sell (proposed sale on 7-Dec-20) but had been blocked by regulators.

The broker concluded:

We are Neutral-rated on WBC. Our 12-month TP of A$27.29 is based on a 50%/50% blend of our DCF / ROTE vs. P/NTA valuations. Upside risks: higher interest rates, outperformance on NIM management, better than expected performance on cost management. Downside risks: Slower-than-expected housing growth, risk of higher investment spend, higher exposure to NSW property market.

The post Where next for the Westpac share price? appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Friday
• What’s the outlook for ASX 200 dividend shares in the second half of 2022?
• ASX 200 midday update: Appen rockets, Westpac super update
• Here’s why the Westpac share price is pushing higher today
• Own Westpac shares? Here’s why the bank’s $45b super business is hitting headlines

Motley Fool contributor James Mickleboro has positions in Westpac Banking Corporation. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Westpac Banking Corporation. 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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There’s a new federal government, in case you haven’t heard, and talk of the town is that it could be a positive for those ASX companies tied up in the renewables space.

New Prime Minister and Labor leader Anthony Albanese has promised a 43% reduction in carbon emissions by the year 2030 relative to 2005 levels.

With that backdrop in mind, it’s prudent to check in and see how ASX renewable energy shares have tracked in May.

Green shares are in the red

Whilst there’s no specific set of indices covering the ESG or renewables segment in Australia, ETFs tracking the sector have stumbled hard in 2022.

The Vaneck MSCI Australian Sustainable Equity ETF (ASX: GRNV) has fallen around 6% this month and is down 12% this year to date.

Whereas the Russell Investments Australian Responsible Investment ETF (ASX: RARI) slipped by roughly half that amount in May.

On the individual level, renewable energy players such as Infratil Ltd (ASX: IFT) have taken a knock in May, trading 3% down month to date.

Meanwhile, other tickers in the space including Genesis Energy Ltd (ASX: GNE) and Hazer Group Ltd (ASX: HZR) have slipped by 5% and 13% this month to date respectively.

It’s all relative though, as Einstein might say, and comparing to the S&P/ASX 200 index (ASX: XJO), each of these names, plus ETF’s tracking the sector are trailing the benchmark index.

The month to date returns for May in each of these vehicles are plotted on the chart below.

The post How have ASX renewable energy shares been performing in May? appeared first on The Motley Fool Australia.

More reading

• If the ‘election outcome is deeply consequential for clean energy investment’, which ASX shares might benefit?

Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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ASX 200 Mining shares have been getting a lot of attention lately, particularly for their supercharged dividends. But one fund manager believes some potential dividend gems can be found in another sector altogether.

Investors Mutual portfolio manager Michael O’Neill has revealed why he does not rely on the resources sector for dividend heavyweights, but instead prefers shares in the industrials sector.

Let’s take a look at why.

Long-term performance of ASX 200 dividend shares

O’Neill highlighted that in the period from 2011 to 2021, ASX 300 industrial shares delivered a higher income return than their ASX 300 resources counterparts in 8 out of the 11 years.

Only in 2020 and 2021, did resources shares beat industrials when it came to annual income returns.

However, Australia’s mining giants are tipped to produce huge dividend yields overall in FY22. As my Foolish colleague Tristan reported recently, Macquarie is tipping BHP Group Ltd (ASX: BHP) to pay a 16% dividend yield in FY22. Meanwhile, analysts at Macquarie tip Rio Tinto Limited (ASX: RIO) to pay 16.3% and Fortescue Metals Group Limited (ASX: FMG) to pay 14%.

Furthermore, the latest Janus Henderson Group (ASX: JHG) Global Dividend Index report identified BHP as the highest dividend payer in the world for the March quarter. ASX dividends overall also leapt 38.9% in the quarter.

O’Neill, however, cautions investors against purely chasing the highest dividend payers each year.

Instead, he recommends a diverse portfolio that will pay strong dividends throughout the economic cycle.

Speaking to Livewire, he said:

Unfortunately, the fortunes of resources companies fluctuate significantly, as does the size of their dividends.  Resources stocks might have standout years for paying dividends, or even standout multi-year-runs (like 2020 and 2021) but this kind of dividend yield for resources is unsustainable.

For reliable income over the longer term, O’Neill instead recommended ASX Industrials shares including Aurizon Holdings Ltd (ASX: AZJ) and Brambles Limited (ASX: BXB). He commented that these “might not be household names but generate high dividends, year after year, in good times and bad”.

Highlighting why he likes industrial shares, O’Neill added many of these companies now have excess capital to return to shareholders, having been conservative with their payouts since 2019.

Based on the current share price, Brambles has a trailing dividend yield of 2.64%. Meanwhile, Aurizon shares currently offer a trailing dividend yield of 6.22%.

Share price snapshots

The Brambles share price has lifted by around 4% over the past year, while Aurizon shares have surged by almost 12%.

In the year to date, Brambles shares have gained 4.3%, while Aurizon shares are up almost 15%.

For perspective, the S&P/ASX 200 Index (ASX: XJO) has gained around 1.2% over the past year.

The post Fundie tips ASX 200 dividend shares that pay ‘in good times and bad’. Hint: not miners appeared first on The Motley Fool Australia.

More reading

• 2 ASX blue-chip shares this top fund manager thinks are good value
• Why Brambles, James Hardie, Seek, and Sezzle shares are sinking
• What I love about these ‘boring’ ASX shares: fundie
• ASX 200 midday update: Brambles takeover talks end, resources shares charge higher
• Brambles share price sinks 7% after takeover talks collapse

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Aurizon Holdings Limited and Macquarie Group Limited. 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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Some intriguing ASX shares exposed to useful ‘megatrends’ right now are worth investigating, in my opinion, as an excellent way to diversify and strengthen your investment portfolio.

Megatrends (a fancy word for trends on steroids) and other tailwinds can help boost revenue and earnings over the coming years. But they don’t automatically mean that an investment is going to perform well.

I believe that the two ASX shares below look compelling for the long-term based on their specific megatrend tailwinds — particularly at their current prices. Let’s take a look.

Betashares Global Cybersecurity ETF (ASX: HACK)

This is an exchange-traded fund (ETF) that is focused on the global cybersecurity sector.

Sadly, cybercrime is on the rise. For example, over the 2021 financial year, the ACSC (Australian Cyber Security Service) received more than 67,500 cybercrime reports, an increase of nearly 13% from the previous financial year. The ACSC said:

The increasing frequency of cybercriminal activity is compounded by the increased complexity and sophistication of their operations.

The accessibility of cybercrime services – such as ransomware-as-a-service (RaaS) – via the dark web increasingly opens the market to a growing number of malicious actors without significant technical expertise and without significant financial investment.

On the good side of the cyber fight are cybersecurity businesses. Some of those names include Palo Alto Networks, Cisco Systems, Crowdstrike, Zscaler, Mandiant, Booz Allen Hamilton and VMware.

Organisations and individuals will continue to want their data, digital assets and so on protected, so I think the HACK ETF is a pretty defensive idea as well.

In my opinion, it looks like a more attractive opportunity after a 20% drop of the valuation since the start of the year.

Australian Ethical Investment Limited (ASX: AEF)

The second ASX share with a megatrend behind it is Australian Ethical. This is a fund manager that provides investors with exposure to investments that align with their ethical viewpoint.

The company’s investment strategy involves avoiding some sectors, such as coal, and focusing on opportunities in areas like healthcare where it finds good ideas.

Australian Ethical is benefiting from the growing demand of investors wanting compelling investments that tick the environmental, social and governance (ESG) box.

It benefits from regular contributions of the superannuation guarantee from members, as well as balance transfers from new members.

In its latest quarterly update for the three months to 31 March 2022, the fund manager said that it experienced positive net inflows of $240 million and a 4% increase in customers.

The ASX share ended the last quarter with funds under management (FUM) of $6.83 billion. In the nine months to March 2022, Australian Ethical saw a rise of 13% of FUM.

I believe the Australian federal election was another example of how climate change is becoming increasingly important in some people’s minds. So it’s not much of a surprise to see funds flowing Australian Ethical’s way.

Over the long-term, I think Australian Ethical can continue to achieve growing FUM, good investment returns and offer more investment options that attract more funds. I also believe that as Australian Ethical lowers its management fees, it can attract more customers for whom the management cost is a sticking point.

And finally, I think the Australian Ethical share price looks much better value after a 61% fall this year.

The post Why I’d buy these 2 excellent ASX shares exposed to megatrends appeared first on The Motley Fool Australia.

More reading

• 2 beaten down ETFs for investors to buy now
• 2 high quality ETFs for ASX investors to buy
• Here are 2 ASX-listed ETFs that might be able to fend off inflation
• 3 top ASX growth shares I’d buy next week
• Here are 2 quality ETFs that are now a lot cheaper

Motley Fool contributor Tristan Harrison 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 Australian Ethical Investment Ltd., BETA CYBER ETF UNITS, Cisco Systems, and CrowdStrike Holdings, Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended VMware. The Motley Fool Australia has positions in and has recommended BETA CYBER ETF UNITS. The Motley Fool Australia has recommended Australian Ethical Investment Ltd. and CrowdStrike Holdings, Inc. 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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Friday has brought good news for embattled investors. DeVere Group CEO and founder Nigel Green has tipped that major global indexes – such as the S&P/ASX 200 Index (ASX: XJO) – could be nearing their lowest point and getting ready to rally.

“The markets have been shaken in recent months, but now I’m calling it: the bottom is very close,” Green says.

And he’s flagged the sectors he thinks will provide buyers the biggest bounce. So, where does Green suggest investors put their money to best ride the recovery wave? Let’s take a look.

Is the ASX 200 gearing up for a rebound?

The ASX 200 has tumbled 6.38% since the start of 2022. While its downturn has likely disappointed many Australian investors, it’s fared better than other global markets.

As deVere Group’s Nigel Green points out, Wall Street has endured far greater suffering. The S&P 500 has tumbled 15% year to date while the Nasdaq Composite has fallen nearly 26%.

“The market downturn has been pretty brutal,” Green admits, “but I’m confident that we’re close to the bottom.”

“With a bounce on its way, investors should be positioning portfolios to take advantage of the rally.”

The deVere boss says it “makes sense” for investors to get exposure to sectors like energy, infrastructure, commodities, pharmaceutical, and consumer staples with strong branding ability.

Of course, those sectors are represented on the ASX 200 by the likes of energy share, Woodside Energy Group Limited (ASX: WDS) and, in infrastructure, toll road operator Transurban Group (ASX: TCL).

BHP Group Ltd (ASX: BHP) is the ASX 200’s largest commodity play while healthcare stock Telix Pharmaceuticals Ltd (ASX: TLX) represents the pharmaceutical sector.

Finally, ASX 200 retail giant Wesfarmers Ltd (ASX: WES) is behind both Bunnings and Kmart. The pair both sit among Australia’s most trusted brands.

While Green’s predictions of an upcoming rally will likely be met with excitement, he warns it’s not the time to throw caution to the wind.

“It’s not just about piling into lower-priced, high-quality investments; it is also about buying judiciously and being aware of the shifting economic landscapes and trends,” he said.

“Portfolio diversification is key and plays an essential role in managing volatility.”

The post ‘We’re close to the bottom’: Expert flags share market sectors to buy before the rally appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Friday
• Experts name 2 ASX 200 shares with high quality management teams to buy
• How do ASX shares typically perform following a demerger?
• Top broker gives its verdict on the BHP share price post-demerger
• What’s the outlook for ASX 200 dividend shares in the second half of 2022?

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 no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Wesfarmers Limited. 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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The Talga Group Ltd (ASX: TLG) share price is ending the week strongly.

In morning trade, the battery and advanced materials company’s shares are up 8% to $1.41.

Why is the Talga share price shooting higher?

Investors have been bidding the Talga share price higher on Friday after the company released an update on the Vittangi Graphite Project in northern Sweden.

According to the release, the Vittangi graphite resource has been boosted by 54% to 30.1 million tonnes of graphite ore at 24.1% Cg. This cements its position as Europe’s largest graphite resource.

The release explains that this estimate includes a maiden mineral resource for the new Nunasvaara East discovery, the delineation of which continues to support the high continuity of graphite grade between known deposits.

But it may not end there. The Vittangi graphite deposits remain open along strike and at depth, with further drilling planned to underpin continued resource growth.

Management believes the updated Vittangi mineral resource could potentially provide Li-ion battery anode material for the production of approximately 60 million electric vehicles.

What’s next?

Talga confirmed that it is progressing towards commercial production of its flagship green active anode material, Talnode-C. This follows the recent opening of the first Li-ion battery anode plant in Europe and receipt of a crucial permit for its initial 19,500tpa operation.

In addition, by further defining the Vittangi deposit, Talga believes it is boosting the expansion potential of its vertically integrated battery anode business to match future market demand.

Talga’s Managing Director, Mark Thompson, is very positive on the company’s future. He said:

Currently, there is more than 960GWh2 of Li-ion battery capacity using graphite anode technology planned in Europe. In boosting our graphite mineral resource, we are also boosting our ability to supply sustainable anode products and setting Talga up to become a major supplier to the world’s fastest growing Li-ion battery markets.

The post Here’s why the Talga share price is charging 8% higher today appeared first on The Motley Fool Australia.

More reading

• Why the CSR share price is backtracking today
• Infomedia share price leaps higher on new unsolicited takeover proposal 
• Appen share price crashes 25% after Telus withdraws takeover offer
• Why Bitcoin, Dogecoin, and Shiba Inu are falling today
• ‘The stock can double’: Expert names 2 ASX shares market hasn’t woken up to

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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CSR Limited (ASX: CSR) shareholders might be wondering why the share price is falling 2.25% to $4.79 today.

The building products company released its full year results on 11 May, reporting solid growth across key financial metrics.

Nonetheless, the board opted to ramp up its upcoming final dividend to eligible investors.

Let’s take a look below at why CSR shares are falling during early morning trade.

Shareholders set eyes on CSR’s final dividend

The CSR share price is in reverse after trading ex-dividend today.

This means if you didn’t purchase the company’s shares before this date, the upcoming dividend will go towards the seller.

Historically, when a company reaches its ex-dividend day, its shares tend to fall in proportion to the dividend paid out.

If you’re wondering why, eligible shareholders tend to quickly offload after securing the dividend, looking for other alternative investments.

In addition, the company’s value is worth a tad less after paying out a portion of its profits to shareholders.

When can shareholders expect to be paid?

For those eligible for CSR’s final dividend, shareholders will receive a payment of 18 cents per share on 1 July.

The dividend is also fully franked.

Franking credits or otherwise known as imputation credits, are highly regarded in the investing world. This is a type of tax credit that is passed onto shareholders when dividend payments are made by a company.

Essentially, the company is paying the tax on the dividends received by the shareholders.

Also, investors who elect for the dividend reinvestment plan (DRP) will see a number of shares added to their portfolio. This will be based on a 10-day volume weighted average price from 6 June to 20 June.

There is no DRP discount rate and the last election date for shareholders to opt-in is on 31 May.

CSR share price summary

Since the beginning of 2022, CSR shares have lost 16% on the back of weakened investor sentiment following inflationary movements.

Notably, CSR shares are touching a 52-week low of $4.79 today.

In comparison, the S&P/ASX 200 Index (ASX: XJO) surged in the earlier months of 2022, but has reversed its gains.

The ASX 200 benchmark index remains relatively flat year to date.

Based on valuation grounds, CSR commands a market capitalisation of roughly $2.41 billion, and has a trailing dividend yield of 5.51%.

The post Why the CSR share price is backtracking today appeared first on The Motley Fool Australia.

More reading

• Hoping to bag the next CSR dividend? Here’s what you need to know
• Why is the CSR share price lagging the ASX 200 on Friday?
• Why is the CSR share price plunging 9% today?
• CSR share price lifts as company constructs 20% more profit
• Do CSR shares have a dividend reinvestment plan?

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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The Infomedia Limited (ASX: IFM) share price is marching higher, up 4.6%.

Infomedia shares closed yesterday at $1.62 and are currently trading for $1.69.

This comes after the company, a software-as-a-service (SaaS) provider for the automotive industry, reported it has received a new and unsolicited takeover proposal.

What was reported on the new takeover proposal?

The new “conditional non-binding indicative” proposal comes from Battery Ventures, a United States based, global technology-focused investment firm.

And the Infomedia share price looks to be getting a boost from Battery Ventures’ offer of $1.75 per share, payable in cash.

The proposal remains subject to a number of conditions. These include receiving approval from the Board and from Infomedia shareholders, entry into an exclusivity agreement, and of course the customary regulatory approvals.

Battery Ventures reported it can finance the takeover from committed capital within its existing investment funds.

With 375.76 million Infomedia shares outstanding, that’s approximately $657.6 million.

Infomedia said it “will consider the Battery Indicative Proposal in the context of its ongoing preliminary discussions with other interested parties, including the TA Associates / Viburnum consortium”.

The company first reported on the offer from TA Associates and Viburnum on 16 May, having gone into a trading halt the prior trading day, 13 May.

The offer from the consortium, which values the Infomedia share price at $1.70, came shortly after it became a new substantial shareholder with a 14.5% stake.

The Infomedia share price closed 28.9% higher on the day.

As for the latest proposal, Infomedia said its shareholders don’t need to take any action in response at this time.

Infomedia share price snapshot

After sliding for much of 2022, the Infomedia share price is up 6.1% in 2022, buoyed by the series of takeover proposals.

Bu comparison the All Ordinaries Index (ASX: XAO) is down 6.3% year-to-date.

The post Infomedia share price leaps higher on new unsolicited takeover proposal  appeared first on The Motley Fool Australia.

More reading

• Why Brambles, Core Lithium, Infomedia, and Qube shares are charging higher
• Infomedia share price rockets 30% following takeover approach
• Infomedia share price halted amid takeover approach

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Infomedia. The Motley Fool Australia has recommended Infomedia. 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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