Mainstream (ASX:MAI) share price surges 7% to new record high

The Mainstream Group Holdings Ltd (ASX: MAI) share price has rocketed more than 7% as it returned to the ASX boards this morning.

Why the Mainstream share price is surging

Mainstream yesterday provided an update on the ongoing takeover battle to acquire all the company’s shares. The Aussie financial administrator received an updated offer to acquire its shares. It comes after previous offers from both Vistra and SS&C Solutions Pty Ltd (SS&C).

The Mainstream share price has this morning surged to a new record high of $2.41 per share following an updated offer from SS&C. Mainstream received an unsolicited, non-binding offer from global fund administrator Apex Group Limited (Apex).

The updated Apex offer was for $2.35 per share,…