The Australian market has started the week in positive territory, closing Monday?s session up 1.21% at 7149.40 points as a rally for financial stocks boosted the key index.
The stocks that made headlines today were:
Virtus Health jumped 7.5% today after the fertility treatment company announced it has accepted CapVest?s acquisition offer for $8.25 per share less the value of any dividends or distributions declared or paid after today, giving Virtus Health an enterprise value of $781.3 million. The Virtus Health board unanimously recommends the binding CapVest transaction over the offer presented from BGH Capital.
Magellan Financial shares fell 1.41% today after the investment management company released its funds under management report for the last two-weeks indicating a decline of $5bn since the most recent FUM update on the 25th of February. Magellan reported the $5bn outflow consists of net institutional outflows of $4.7bn and retail outflows of $0.3bn.
And Mineral Resources shares rallied today after the mining company announced it has secured a 5% stake in Global Lithium Resources for $13.6m, as part of Global Lithium Resources? capital raising to fast track exploration activities, approvals and study work across Marble Bar and Manna Lithium projects.