Viewing posts for the category Zenitas (ASX:ZNT)

Zenitas Healthcare Ltd (ASX:ZNT) Takeover & FY 2018 Results

Community-based healthcare roll-up, Zenitas Healthcare Ltd (ASX:ZNT), released its results as well as news of a takeover proposal on Friday in chaotic fashion. The stock went into a trading halt before the market opened amid reports of an offer to acquire the company in the Australian Financial Review. It then traded in two short intervals following the release of its annual report but prior to confirmation of the takeover bid. Anyone who sold their shares during these periods would be pretty angry given the stock was trading around 10% to 15% higher following the crucial news. The ASX should reverse all trades that took place before the offer was announced.

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