The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has had a reasonably positive start to the week and is up 0.1% to 5,999 points in afternoon trade.
Four shares climbing more than most today are listed below. Here's why they started the week with strong gains:
The AWE Limited (ASX: AWE) share price has continued its good run and jumped 16% to 84.5 cents. Today's gain is related to the receipt of a takeover offer from Mineral Resources Limited (ASX: MIN) at 80 cents per share. Judging by the share price gain, shareholders expect a bidding war to commence. Mineral Resources shares have sunk lower today on the news.
The Tox Free Solutions Limited (ASX: TOX) share price is up a massive 20% to $3.41 after waste management rival Cleanaway Waste Management Ltd (ASX: CWY) tabled a $671 million cash takeover offer. The Toxfree board have unanimously voted in favour of the proposal.
The WiseTech Global Ltd (ASX: WTC) share price is up 3% to $12.55 despite there being no news out of the software-as-a-service provider for the logistics industry. However, last week WiseTech was named as one of three new additions to the S&P/ASX 200. This could have put it on the radar of money managers.
The Zelda Therapeutics Ltd (ASX: ZLD) share price has climbed 2.5% to 9.2 cents. The biopharmaceutical company's shares were up as much as 10% in early trade before fading. This morning the company announced a research agreement with Children's Hospital of Philadelphia to study the pharmacology of cannabinoids. The company's main focus will be on autism treatments.
