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ASX 200 (ASX:XJO) midday update: BHP higher on unification plans, TPG tumbles

The ASX 200 is on form on Friday…
The post ASX 200 (ASX:XJO) midday update: BHP higher on unification plans, TPG tumbles appeared first on The Motley Fool Australia. –

At lunch on Friday, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week on a positive note. The benchmark index is currently up 0.2% to 7,239.9 points.

Here’s what is happening on the ASX 200 on Friday:

BHP shares rise on unification plans

The BHP Group Ltd (ASX: BHP) share price is pushing higher today after revealing that it will proceed with its unification. This will see BHP make its ASX listing the primary listing. The BHP Board believes unification is in the best interests of shareholders. It will result in a corporate structure that is simpler and more efficient, reduces duplication and streamlines BHP’s governance and internal processes.

CSL responds to acquisition speculation

The CSL Limited (ASX: CSL) share price is trading lower today after responding to speculation that is planning to acquire Swiss-based Vifor Pharma for ~$10 billion. The biotherapeutics giant said it regularly assesses strategic opportunities that can improve its business, improve the health of people around the world, and provide value to shareholders. But warned there is no certainty that any transaction will occur.

Transurban distribution declared

The Transurban Group (ASX: TCL) share price is pushing higher after declaring its distribution for the six months ending 31 December 2021. The toll road giant will be paying a distribution of 15 cents per stapled security. This is in line with the distribution it paid during the prior corresponding period.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Friday has been the ALS Ltd (ASX: ALQ) share price with a 3% gain on no news. The worst performer has been the TPG Telecom Ltd (ASX: TPG) share price with a 6% decline. This follows news that founder David Teoh is selling down his holding.

The post ASX 200 (ASX:XJO) midday update: BHP higher on unification plans, TPG tumbles appeared first on The Motley Fool Australia.

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More reading

TPG (ASX:TPG) shares down 6% as founder sells $335m stake

BHP (ASX:BHP) share price lifts as single listing gets green light

You want an ASX share to hold for 4 years? Here are 2!

5 things to watch on the ASX 200 on Friday

CSL (ASX:CSL) share price dips amid $10b acquisition rumours

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended CSL Ltd. The Motley Fool Australia has recommended TPG Telecom Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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