Synagistics (02562) saw its stock price plummet by 9.04% during Monday's market opening, following the announcement of a significant acquisition deal. The sharp decline suggests investors' immediate negative reaction to the company's latest strategic move.
According to reports, Synagistics has entered into an exclusive, binding call option to acquire up to a 100% stake in Movitech Co. The consideration for the sale and purchase of the stake is set at US$30 million. This substantial investment appears to have sparked concerns among shareholders about the financial implications and potential risks associated with such a large-scale acquisition.
The market's response indicates that investors may be wary of the acquisition's impact on Synagistics' financial position or skeptical about the potential synergies between the two companies. As trading continues, market participants will likely be closely monitoring further details about the deal and its potential impact on Synagistics' future performance and growth prospects.
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