:Australian automotive software company Infomedia Ltd received on Monday a A$638.8 million acquisition proposal from U.S.-based Solera Holdings LLC after attracting two bids last month, sending its shares sharply higher.
Shares in Infomedia jumped as much as 9.1 per cent to A$1.625, marking their biggest intraday percentage gain in a month, after the company announced the offer, which represents a 14.1 per cent premium to the stock's last closing price.
Source: News Formal (newsformal.com)
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