Three big movers 23rd March, 2022; Uniti Group rallied on a takeover offer, Cettire slumped on CEO share sale, & Imugene lifted on clinical trial approval
The Australian market extended its rally into the midweek session, closing Wednesday 0.5% higher at 7377.90 points, driven by a more than 3% surge in tech stocks.
The stocks that made headlines today were:
Uniti Group as shares in the telecommunications services provider popped another 10.7% today after Macquarie Asset Management and PSP Investments made a $5 per share takeover bid for Uniti Group, valuing Uniti’s equity at $3.6bn dollars. This offer comes a week after Morrison & Co. made a takeover offer for $4.50 per share.
Shares in online luxury fashion retail platform Cettire tumbled more than 13% today after the company’s founder and CEO Dean Mintz sold 35 million shares at $1.35/share in the company, the equivalent to a 9.2% stake. Mr Mintz still holds a 56.7% stake in Cettire.
And Imugene jumped 9.6% today after announcing it has received Western Institutional Review Board approval to commence a Phase I clinical trial of its new cancer oncolytic virotherapy candidate, VAXINA, in multiple solid tumours in patients.
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