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Three big movers 29 March, 2022; Uniti Group received revised takeover offer, Nearmap lifted on ACV update & Telix Pharmaceuticals rose 10% on two updates

The Australian market extended its green run into Tuesday, closing the session 0.76% higher at 7469 points as a rebound for tech stocks led gains on the key index.

Australian retail sales data released today showed a rise of 1.8% for February to $33.085 billion which is the second highest level on record, as consumers shrugged off the spread of COVID-19 around the country.

The stocks that made headlines today were:
Uniti Group shares rallied then fell today as bidding war for the company’s takeover intensified. This morning, the consortium including Morrison & Co. and Brookfield Instrature Group revised its initial takeover bid to now offer $5/share via a scheme of arrangement to acquire Uniti.

Nearmap shares lifted 16.6% today after the aerial imagery and location data company provided an update on its annual contract value. Nearmap announced it has reached another key financial milestone, ticking over 150 million dollars in annual contract value for the first time in addition to signing its largest ever government contract in North America.

And Telix Pharmaceuticals jumped almost 10% today after the biotech company released two updates with the first being that Telix has signed an exclusive distribution agreement with Xiel for Telix’s Illuccix product, and the second regarding Telix being granted FDA Orphan Drug Designation for its bone marrow conditioning treatment.

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