Insights

ASX 200 (ASX:XJO) midday update: Sydney Airport agrees to takeover, Wesfarmers’ strikes API deal

Here’s what is happening on the market today…
The post ASX 200 (ASX:XJO) midday update: Sydney Airport agrees to takeover, Wesfarmers’ strikes API deal appeared first on The Motley Fool Australia. –

At lunch on Monday, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a small decline. The benchmark index is currently down 0.1% to 7,447.3 points.

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

Sydney Airport agrees takeover deal

The Sydney Airport (ASX: SYD) share price is pushing higher today after accepting a takeover approach. According to the release, the airport operator has given the thumbs up to an offer of $8.75 per share from a consortium of investors led by IFM Investors and Global Infrastructure Partners. This values Sydney Airport at $32 billion on an enterprise value basis. Sydney Airport’s board has unanimously recommended its shareholders vote in favour of the deal.

ANZ shares fall after going ex-dividend

The Australia and New Zealand Banking GrpLtd (ASX: ANZ) share price trading lower today. However, it has nothing to do with its performance or a broker note. Rather, it is due to the bank’s shares trading ex-dividend for its fully franked final dividend of 72 cents per share. Eligible shareholders can look forward to receiving this latest dividend on 16 December. For the same reason, the Macquarie Group Ltd (ASX: MQG) share price is trading lower today.

Wesfarmers to acquire API

The Wesfarmers Ltd (ASX: WES) share price is trading lower today despite announcing a deal to acquire Australian Pharmaceutical Industries Ltd (ASX: API). Wesfarmers will be acquiring the pharmacy chain operator and distributor for $1.55 cash per share. While this represents only a modest premium to the most recent API share price, it is a 35.4% premium to its undisturbed closing share price on 9 July 2021. On that day Wesfarmers made its first offer of $1.38 per share.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Monday has been the St Barbara Ltd (ASX: SBM) share price with a 6% gain. A number of gold miners are storming higher today after a rise in the gold price on Friday. The worst performer has been the Polynovo Ltd (ASX: PNV) share price with an 8% decline. On Friday afternoon this medical device company announced the surprise resignation of its Managing Director, Paul Brennan.

The post ASX 200 (ASX:XJO) midday update: Sydney Airport agrees to takeover, Wesfarmers’ strikes API deal appeared first on The Motley Fool Australia.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of August 16th 2021

More reading

These 6 ASX shares are going ex-dividend this week

API (ASX:API) share price higher after accepting Wesfarmers takeover offer

Wesfarmers (ASX:WES) share price rises on API takeover deal

Confirmed: $32 billion Sydney Airport (ASX:SYD) deal to land today

5 things to watch on the ASX 200 on Monday

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 POLYNOVO FPO. The Motley Fool Australia owns shares of and has recommended Wesfarmers Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!