In Case You Missed It: Tech takeover takes the cake  

Stockhead’s In-Case-You-Missed-It highlights some of the strongest performing ASX stocks that might have slipped your notice today. 

It’s a short, sharp update to help frame the trading day by showing some of the biggest movers in percentage terms.

ICYMI Leader Board

Stocks highlighted in green have made market-moving announcements (click headings to sort).

Melbourne-headquartered cyber security firm Tesserent (ASX:TNT) has announced it will be taken over by French multinational defence contractor Thales for an equity value of $176 million.

TNT and Thales have entered a binding scheme implementation deed (SID) for a purchase price of 13 cents/share, which is a 165.3% premium to the closing price on Friday.

Thales has advised the TNT business will continue to be known as Tesserent, and its visual identity will incorporate the “Cyber Solutions by Thales” tagline.

In its announcement TNT said it will become the lead cybersecurity offering of Thales Australia and New Zealand.

The TNT board unanimously recommends shareholders vote in favour of the deal at an anticipated meeting in September.

Mark Creasy and SQM-backed Azure Minerals (ASX:AZS) has flagged “exceptional” lithium hits from its Andover project in WA’s western Pilbara.

Seven of the first eight diamond holes testing pegmatites returned high grades, with a notable drill intercept of 105m at 1.26% Li2O from 256.3m in hole ANDD0208.

Anything over 1% Li2O is considered ripe for development in today’s market.

Managing director Tony Rovira said the results highlight the exceptional thickness and high grades of lithium mineralisation and the potential for Andover to host lithium resources of world-class scale and tenor.

Further assay results are expected to be released within the next two weeks and more drill rigs are set to be mobilised to site to test high-priority targets.

Oil and gas play Black Mountain Energy (ASX:BME) has just commenced drilling the first Permian Basin well at its recently acquired Half Moon project in New Mexico, early signs the company is getting serious with its US prospects after tapping the market for $4.25m back in February.

The drilling phase is expected to take ~25 days, while the first production is anticipated within three months.

Toys’R’Us ANZ (ASX:TOY) announced the appointment of Penny Cox as its new CEO.

And Netlinkz (ASX:NET) has inked a strategic partnership with major telecommunications company PT&T Corp, based in the Philippines, to use its product offerings to improve connectivity and accelerate digital transformation across its various customer sectors.

The company said the partnership will bridge the connectivity gap, empowering the islands with robust networking solutions facilitating seamless communication, enabling access to essential services, and supporting economic development and growth.

At Stockhead we tell it like it is. While Azure Minerals and Netlinkz are Stockhead advertisers, they did not sponsor this article.