** Shares of Quickstep Holdings QHL.AX rise as much as 7.9% to A$0.41, their highest level since July 30

** Aerospace and defence equipment manufacturer rejects takeover offer by private capital manager CPE Capital's unit ADSAM Operations for A$28.7 mln ($19.15 mln)

** Offer price of A$0.4 per share is at a 105% premium to QHL's last close on Nov. 6

** Says offer does not adequately reflect the value of co

** Shares add 77.3% in value so far this week, on track for its best week to date

** QHL up 44.4% YTD, including current session's moves

($1 = 1.4988 Australian dollars)

(Reporting by Nikita Maria Jino in Bengaluru)

((Nikita.Jino@thomsonreuters.com;))