MaxiPARTS drops 3-week low after Ares withdraws takeover bid
Shares of vehicle parts distributor MaxiPARTS fell 20.9% to A$1.85, their lowest level since September, after Singapore-based unit of Ares Management withdrew its ~A$138.9 million takeover proposal.
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01:38:01 AM UTC
SquawkNews
Sept 22 (Reuters) — Maxiparts Ltd: Ares Withdraws Conditional Non-binding Indicative Proposal Maxiparts To Terminate Exclusivity Deed Following Withdrawal Of Proposal Further company coverage: MXI.AX (Reuters.Briefs@thomsonreuters.com;)
87 million). The stock was on track for its biggest drop since March 2020 if the current losses held. 4% year-to-date, including moves in the current session. 4049 Australian dollars)