Asia
Australian Shares Slide; Monash IVF Group Receives Sweetened Takeover Offer from Genesis, Soul Patts Consortium
Australian shares slid on Monday's close as the US moved to blockade the critical Strait of Hormuz, sending oil prices up.The S&P/ASX 200 Index declined 0.39% or 34.60 points to close at 8,926.The US Central Command said the US will begin implementing a blockade of all maritime traffic entering and leaving Iranian ports after peace talks between Iran and the US broke down over the weekend.A report from The Wall Street Journal said that Trump and his advisers were considering limited strikes on Iran. Brent crude oil futures spiked around 7% to reach $102.17 per barrel early on Monday. Gold fell 0.7% to $4,714 per ounce.In company news, Monash IVF Group (ASX:MVF) received a revised, unsolicited, conditional, and non-binding indicative proposal from a consortium comprising Genesis Capital Investment Management and WHSP Holdings (ASX:SOL) to acquire all its shares by way of a scheme of arrangement at AU$0.90 per share. Its shares closed up 16%.a2 Milk (NZE:ATM, ASX:A2M) said its infant milk formula business in China is experiencing "temporary in-market product availability issues" that will likely impact the company's performance in fiscal 2026, resulting in a cut to guidance. Its shares fell 12% on market close.Lastly, EML Payments (ASX:EML) revised its fiscal-year underlying earnings before interest, taxes, depreciation, and amortization (EBITDA) guidance to a range of AU$47 million to AU$50 million from AU$58 million to AU$60 million. Its shares plunged 34% on market close, earlier reaching an over 12-year low point.
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