The S&P/ASX200 closed lower on Monday, shedding 13.50 points or 0.19% to 7281.90 after setting a new 100-day high. Over the last five days, the index has gained 1.68% and is currently 0.38% off of its 52-week high.
7 of 11 sectors ended higher despite the decline in the S&P/ASX 200 Index. Information Technology was the best performing sector, gaining 2.80% and 2.63% for the past five days.
On that note, let us take a look at some of the most talked-about IT stocks of the day that hit the headlines for various reasons.
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Altium (ASX:ALU) sees best day in over a decade on Autodesk buyout offer
Software manufacturer Altium Limited (ASX:ALU) soared as much as 40.6% to AU$38.26, biggest intraday percentage jump since April 2011.
The Company shared it has got a formal buyout proposal from U.S.-based Autodesk Inc that values ALU at AU$5.05 billion.
However, ALU stated the proposal is significantly undervaluing its prospects and therefore it has rejected the offer.
ALU was one of the biggest percentage gainer in ASX 200 benchmark index AXJO.
MNF Group (ASX:MNF) posts significant gains in 3 months on partial sale to Vonex (ASX:VN8)
Shares of MNF Group Limited (ASX:MNF) closed 7.676% higher at AU$5.330 on Monday.
The telecom firm shared that it has entered a non-binding term sheet for the sale of part of its direct business to Vonex Limited (ASX:VN8) for AU$31 million.
Also, the Company has re-affirmed EBITDA forecast for 2021 financial year of AU$40 million to AU$43 million.
Meanwhile, telecom firm Vonex's shares also advanced as much as 14% during the trade and closed 10.344% higher at AU$0.160 per share.
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Hansen (ASX:HSN) receives acquisition proposal from BGH, shares surge more than 22%
Hansen Technologies Limited (ASX:HSN) announced receiving a conditional and non-binding proposal from BGH Capital Pty Ltd to acquire 100% of the outstanding shares of the company. BGH is offering a price of AU$6.50 per Hansen share.
The Proposal values Hansen at an enterprise value of AU$1.3 billion and represents a 33% premium to the AU$4.88 volume weighted average price (VWAP) for 6 months before 4 June 2021 and a 25% premium to the AU$5.18 closing price 4 June 2021.
The value of any dividends or other distributions after the proposal date shall reduce the cash consideration.
HSN Board has considered the Proposal and determined it to be in the interests of all shareholders. It has appointed GrilloHiggins Lawyers as its legal adviser.
The shares ended 22.586% higher at A$6.350 per share on Monday.
IXUP (ASX:IXU) announces strategic acquisition of Data Republics Technology assets
IXUP Limited (ASX:IXU) shared on 7 June 2021 that it has struck a deal to acquire the whole intellectual property and associated technology product portfolio for AU$3 million.
This particular product portfolio has boosted Data Republic’s high profile, global data collaboration product suite. The Data Republic Technology Assets became available as part of a rapid-fire, contested sale process initiated by the Administrators for Data Republic in mid-May 2021.
The purchase price represents a 94% discount to the almost AU$50 million expended by Data Republic to develop and deploy the Data Republic Technology Assets.
IXU shares stopped trading at AU$0.165 per share on Monday.
Sparc Technologies (ASX:SPN) Signs MOU with JBS&G
Sparc Technologies Limited (ASX:SPN) declared on Monday that it has struck a Memorandum of Understanding (MOU) with one of the leading environmental remediation companies of Australia - JBS&G.
As per the MOU, Sparc will be completing immediate testing of its proprietary functionalised graphene for the adsorption of PFAS via research and development successfully undertaken at the University of Adelaide.
As per the ASX announcement, the joint project with JBS&G will include developing a pilot plant for the adsorption of PFAS from contaminated water via graphene filtration.
The share price of the stock SPN traded last at AU$0.275 per share, up 1.851%.