Previous Close | 5.86 |
Open | 5.81 |
Bid | 5.61 x 251500 |
Ask | 5.64 x 298600 |
Day's Range | 5.61 - 5.84 |
52 Week Range | 4.71 - 14.00 |
Volume | |
Avg. Volume | 1,130,582 |
Market Cap | 692.532M |
Beta (5Y Monthly) | 0.90 |
PE Ratio (TTM) | 17.00 |
EPS (TTM) | 0.33 |
Earnings Date | Aug 23, 2022 - Aug 28, 2022 |
Forward Dividend & Yield | 0.10 (1.71%) |
Ex-Dividend Date | Mar 01, 2022 |
1y Target Est | 7.49 |
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TELUS Corporation's (TU) subsidiary TELUS International has dropped its bid for Australia-based Appen Ltd.
Canadian data analytics software maker Telus International made a A$1.2 billion ($830 million) buyout approach for Australian rival Appen Ltd , the target company said on Thursday, sending its shares soaring. It would also give Appen shareholders an opportunity to recoup investment losses since February when its star customer and Facebook owner Meta Platforms revealed that its advertising revenue was hit by tighter privacy controls installed on Apple Inc computers and smartphones. Since then, Appen's shares have nearly halved.
Telus did not immediately respond to a request for comment regarding the withdrawal of the proposal. On Thursday, trading in Appen's shares was halted after they surged more than 29% to A$8.27, below the indicative offer price of A$9.50 a share, as investors positioned themselves for an eventual buyout — including from another company — while allowing for the possibility the talks could fall through. "Appen engaged with Telus in good faith...to better understand the conditions of the proposal and to agree an appropriate confidentiality and standstill agreement," the Australian firm said in its latest statement.