Vocus rockets, Zip surges, & Treasury Wine rebuffs speculation

At lunch on Monday the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a solid gain. The benchmark index is up 0.6% to 6,882.2 points.

Here’s what is happening on the market today:

Vocus takeover approach

The Vocus Group Ltd (ASX: VOC) is rocketing higher today after being the subject of a takeover approach. The telco has received a confidential non-binding, indicative proposal from Macquarie Infrastructure and Real Assets (MIRA) and its managed funds. According to the release, MIRA has made an offer of $5.50 per share. This represents a 25.5% premium to its last close price. Vocus has granted MIRA with due diligence access.

Zip surges higher

The Zip Co Ltd (ASX: Z1P) share price is surging notably higher on…