BUZZ-Australia's Ainsworth Game Technology rises to nearly 1-year high on premium buyout offer

Reuters
6 hours ago
BUZZ-Australia's Ainsworth Game Technology rises to nearly 1-year high on premium buyout offer

** Shares of Ainsworth Game Technology AGI.AX rise 34.5% to A$0.995, their highest levels since May 10, 2024

** Stock logs its biggest intraday pct gain since May 6, 2011

** The gaming firm says it has entered a deal with its majority shareholder Novomatic for it to acquire the remaining 47.1% of co shares that it does not currently own

** Offer price of A$1 per Ainsworth share is at an over 35% premium to its last closing price

** Deal implies equity value of A$336.8 million ($214.98 million) and an enterprise value of A$336.5 million

** Ainsworth's independent board committee unanimously recommends shareholders vote in favour of scheme

** About 224,498 change hands, vs the 30-day average of 27,764

($1 = 1.5667 Australian dollars)

(Reporting by Sneha Kumar in Bengaluru)

((Sneha.kumar@thomsonreuters.com;))

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