ASX200 dives; Aristocrat Leisure falls on acquisition delay; Humm rallies on takeover offer.
- The ASX200 is trading 1.4% lower at 7459.70 after lunchtime.
- Aristocrat Leisure tumbles on delay of Playtech acquisition proposal.
- Humm Group shares rally on Latitude Group Holdings takeover offer.
The Australian market is taking lead from Wall St again today trading 1.4% lower at 7459.70 points after lunchtime as a sharp sell-off in tech stocks drags the ASX into negative territory.
The tech sector’s more than 5% dive today so far follows the Nasdaq’s turbulent session in the US overnight, as Afterpay tumbles almost 9.94%, NOVONIX sheds 7.3% and NEXTDC is down 5.76% today so far.
Bitcoin is trading 6.37% lower over the last 24-hours at US$43,368.80 at 1:15pm AEDT.
Aristocrat Leisure shares are taking a hit today amid the broad tech sell-off and after the gaming technology company released an update on its proposed acquisition of Playtech. The update on the acquisition revealed Playtech shareholders will now vote on the takeover proposal on February 2, instead of next week, to give rival JKO Play time to make a competing takeover offer.
Making headlines, Humm shares are defying the tech sell-off today to trade higher after the buy now, pay later provider received a takeover offer from Latitude Group Holdings for its Humm Consumer Finance (HCF) business. The announcement shared that Humm has entered into a non-binding heads of agreement with Latitude for the sale of Humm’s BNPL, instalment and credit card operations, HCF for around $335m. Humm’s Chair, Christine Christian said they believe the Latitude proposal warrants due diligence and detailed negotiation with the potential to be highly attractive to HUM shareholders.
And BMW has unveiled an e-ink vehicle exterior that can change colours based on the weather, traffic conditions or even the driver’s mood, as part of its future product showcase at CES 2022.
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