Stocks to watch on the Australian stock exchange:
BBG – BILLABONG – steady at $1.045
Billabong has announced that the Federal Court has approved its takeover by US-based Boardriders. Its shareholders will receive a cash payment of $1.05 a share and Billabong shares were suspended at the close of trade on Monday.
CBA – COMMONWEALTH BANK – up 6 cents, or 0.08 per cent, at $73.55
New Commonwealth Bank CEO Matt Comyn has warned of “difficult times ahead” on his first day in his new role, as the lender faces up to what he termed unacceptable failures.
ELD – ELDERS – up 28 cents, or 3.6 per cent, at $7.99
Agribusiness Elders will acquire crop protection business Titan Ag and Kerr & Co Livestock and sell its feedlot and processing operations in Indonesia.
MQA – MACQUARIE ATLAS ROADS – up 26 cents, or 4.6 per cent, at $5.91
MQG – MACQUARIE GROUP- up 25 cents, or 0.25 per cent, at $101.60
Macquarie Atlas Roads is on the lookout for a new CEO and will be renamed Atlas Arteria once it has separated its management from that of Macquarie Group.