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via finance.yahoo.comCapital Markets

Lotte Rental hits 52-week high as TPG launches $613M tender offer

FROM THE WIRE · FINANCE.YAHOO.COM

Investing.com -- Lotte Rental (KS:089860) shares surged over 10% on Friday after TPG-backed Lexicon Korea Holdco launched an 831.7 billion won ($613 million) tender offer for the remaining stake in the South Korean car rental company, seeking to take it private and pursue a…

Read at the source ↗
MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bullishThe take-private bid lifts the stock while the KOSPI plunged intraday.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01Lexicon Korea Holdco offers 59,000 won per share in cash.
  2. 02The shares rose 10.4% to a 52-week high of 58,400 won.
  3. 03The KOSPI fell as much as 8.5% before a circuit breaker triggered.
NEWS IMPACT AND MARKET REACTIONChange from the reference price
LOTTE rental co.,ltd.089860.KOStock58,400.00 KRWMarket closedtoday +10.40%Positive KOSPIINDEX:KS11Index5,059.69Market closedtoday -6.02%Negative
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets

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