Stocks of the Hour: Virtus Health, Ventia Services & Crown Resorts

Company News

by Lauren Evans

The takeover battle continues for IVF operator Virtus Health (ASX:VRT) after private equity firm BGH Capital came back with an off-market takeover offer of $8.00 per share. This comes after Virtus received an offer at $8.25 via a scheme of arrangement from rival buyout firm CapVest. Keeping in mind BGH owns a 19.99 per cent stake in Virtus already, its offer was structured to allow BGH to start buying from today. Shares in Virtus (ASX:VRT) are trading 0.5 per cent higher at $8.11.

Ventia (ASX:VNT) has been granted a two-year contract extension by the Commonwealth Government to deliver property management services to 39 Government entities across 650 properties. The contract extension runs from July 1 this year and is expected to generate around $270 million in revenue for the company. Shares are trading 1.4 per cent higher at $2.60.

Meanwhile, Crown Resorts (ASX:CWN) has been informed by the Victorian Gambling and Casino Control Commission that it is deciding what action should be taken regarding Crown’s use of the China UnionPay process. The company said it will fully cooperate on this matter. Shares are trading 0.3 per cent lower at $12.81.

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