EVANS & TATE’S SHARE PRICE TAKES OFF

Evans & Tate’s share price has shot up in response to a new takeover bid from The Yarraman Group. After E&T rejected Yarraman’s first bid last year, Yarraman has revised its offer promising to inject more than $30 million of equity and raising its value of Evans & Tate to $141 million.

The Evans & Tate share price shot up by four cents when the bid was announced on Friday and is trading at 22 cents a share today, according to local papers.