Guess which ASX All Ords stock just surged 24% on big takeover news

MotleyFool11-19

ASX All Ords stock Close The Loop Ltd (ASX: CLG) bolted out of the gates at the market open on Tuesday following news of a takeover offer. Close the Loop opened at 25.5 cents per share, up 24%, after...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2484932808?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-11-19 08:45","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2484932808","market":"us","top_or_hot":-1,"title":"Guess which ASX All Ords stock just surged 24% on big takeover news","media":"MotleyFool","content":"<div>\n<p>ASX All Ords stock Close The Loop Ltd (ASX: CLG) bolted out of the gates at the market open on Tuesday following news of a takeover offer.  Close the Loop opened at 25.5 cents per share, up 24%, after...</p>\n\n<a href=\"https://www.fool.com.au/2024/11/19/guess-which-asx-all-ords-stock-just-surged-24-on-big-takeover-news/\">Source Link</a>\n\n</div>\n","source":"motleyfoolau_stock","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Guess which ASX All Ords stock just surged 24% on big takeover news</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGuess which ASX All Ords stock just surged 24% on big takeover news\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-19 08:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com.au/2024/11/19/guess-which-asx-all-ords-stock-just-surged-24-on-big-takeover-news/><strong>MotleyFool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>ASX All Ords stock Close The Loop Ltd (ASX: CLG) bolted out of the gates at the market open on Tuesday following news of a takeover offer.  Close the Loop opened at 25.5 cents per share, up 24%, after...</p>\n\n<a href=\"https://www.fool.com.au/2024/11/19/guess-which-asx-all-ords-stock-just-surged-24-on-big-takeover-news/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4006","symbol_name":"钢铁","start_time":0,"source_url":"https://www.fool.com.au/2024/11/19/guess-which-asx-all-ords-stock-just-surged-24-on-big-takeover-news/","article_id":"2484932808","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2484932808","pubTimestamp":1731977115,"sourceInfo":{"source_id":"motleyfoolau_stock","name":"MotleyFool"},"weMediaInfo":null,"summary":"ASX All Ords stock Close The Loop Ltd (ASX: CLG) bolted out of the gates at the market open on Tuesday following news of a takeover offer.  Close the Loop opened at 25.5 cents per share, up 24%, after","collect":0,"end_time":0,"defaultTopTitle":"fool.com.au","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4006":"钢铁","SID":"巴西国家黑色冶金","BK7047":"环境与设施服务","XAO.AU":"标普/澳交所 普通股指数","CLG.AU":"Close The Loop Ltd"},"translate_title":"猜猜哪只ASX All Ords股票因重大收购消息而飙升24%","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CLG.AU":1,"SID":1,"XAO.AU":1},"content_text":"ASX All Ords stock Close The Loop Ltd (ASX: CLG) bolted out of the gates at the market open on Tuesday following news of a takeover offer.  Close the Loop opened at 25.5 cents per share, up 24%, after the global recycling company announced a takeover offer at 27 cents per share. At the time of writing, shares have partially retreated to 24 cents, up 17.07% on yesterday's close. Close the Loop collects and refurbishes products such as laptops, printers, and gaming devices. It also recycles paper and plastics and manufactures sustainable packaging. The company announced receipt of an indicative, non-binding, and conditional proposal from Adamantem Capital to acquire the company by way of a scheme of arrangement for 27 cents per share. This represents a 49% premium to the ASX All Ords stock's 30-day volume-weighted average price (VWAP) on 15 November. Let's take a closer look at the details of the proposed deal.  ASX All Ords stock rockets on takeover offer The takeover offer allows Close the Loop shareholders a choice of cash, scrip in the Adamantem acquisition entity, or a combination of both in exchange for their shares.  The scrip election will be subject to an aggregate minimum take-up level among all shareholders. The total scrip consideration will be scaled back if elections exceed a maximum scrip roll of 45%. In a statement, Close the Loop said its directors had decided it was in shareholders' best interests to engage with Adamantem and allow it to undertake due diligence. The parties have agreed to negotiate a binding Scheme Implementation Deed (SID) on an exclusive basis over 20 business days. If necessary, the exclusivity period may be extended for a further 20 business days. Close the Loop directors said they intended to \"unanimously recommend\" that shareholders vote in favour of the transaction\" if a SID can be agreed on acceptable terms for at least 27 cents per share. The company said this was subject to not receiving a superior offer. It's also subject to an independent expert concluding that the deal is in the best interests of this ASX All Ords stock's investors. The company said:   At this stage, Close the Loop shareholders do not need to take any action in relation to the Indicative Proposal from Adamantem.  The Directors note that there is no certainty that the engagement between the Company and Adamantem will result in a change of control transaction or an offer capable of acceptance by Close the Loop shareholders.  Close the Loop has appointed MA Moelis Australia as financial advisor and Thomson Geer as legal advisor on the deal. Close the Loop share price snapshot This ASX All Ords industrial stock has fallen by around 35% in the year to date. By comparison, the All Ordinaries Index (ASX: XAO) has risen just under 10% over the same period.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2484932808"}