Asaleo Care (ASX:AHY) share price shoots 22% higher following takeover bid

The Asaleo Care Ltd (ASX: AHY) share price was on fire this morning, rising 21.78% to $1.23 before being placed in a trading halt. Asaleo shares opened at $1.01 this morning and stayed pretty much at that level until just past 11:00 am.

Then, they shot the moon and rapidly climbed as high as $1.24. At 11:31 am, Asaleo released an announcement to the markets which informed investors that trading would be “temporarily paused pending a further announcement”.

At 12:32 pm, the ASX issued another announcement advising the markets the shares would be “placed in a trading halt at the request of AHY [Asaleo Care], pending it releasing an announcement.” We have not yet received this announcement directly from Asaleo.

So what’s…