Business
Why the McPherson’s (ASX:MCP) share price is zooming 14% higher today
The McPherson’s Ltd (ASX: MCP) share price is surging notably higher on Thursday morning.
At the time of writing, the personal care and beauty products company’s shares are up 14% to $1.39.
Why is the McPherson’s share price surging higher?
Investors have been fighting to get hold of shares this morning after McPherson’s announced the receipt of a takeover approach.
According to the release, Gallin Pty Ltd has made an unconditional on-market takeover offer of $1.34 cash per share.
While this represents a 9.8% premium to its last close price, it is a very opportunistic 60% discount to its 52-week high.
What is Gallin Pty Ltd?
A separate release explains that Gallin has been incorporated specifically for the purpose of…
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