BUZZ-Australia's Dropsuite hits near 12-yr high on $263 million buyout deal
ReutersJan 28, 2025 1:08 AM
Shares of Dropsuite DSE.AX rise 29.8% to A$5.71, their highest since May 16, 2013
Stock posts its biggest intraday gain since July 3, 2020
Cloud services provider says U.S. based IT management software firm NinjaOne will buy co for A$420 million ($263.05 million) in cash
Offer price of A$5.90 per share represents a 34.1% premium to co's last close
About 2.2 mln shares change hands, vs the 30-day average of around 48,000
Stock up 23.1% this year, including the day's move
($1 = 1.5967 Australian dollars)
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