S&P/ASX 200 Index (ASX: XJO) tech shares are doing their fair share of the heavy lifting today.
While the ASX 200 has just dipped back into the red, down 0.03%, the S&P/ASX All Technology Index (ASX: XTX) – which contains some smaller tech companies as well – is up 2.73%.
A good portion of that boost is attributable to three ASX 200 tech shares that are surging higher today.
Image source: Getty Images
ASX 200 tech share leaping higher on takeover deal upgrade
First up we have Link Administration Holdings Ltd (ASX: LNK).
Shares in the administration services company are up 12.12% to $4.44 following an upgraded takeover offer from Dye & Durham.
The takeover deal by Dye & Durham has seen some ups and downs in recent weeks. The original offer valued Link at $5.50 per share. Following a wider share market sell-off and signs of a looming global economic slowdown, that offer was reduced to $4.30 per share and then later increased to $4.57 per share.
In this morning's report, Link revealed Dye & Durham had revised its base scheme consideration to $4.81 per share. That's 21% higher than yesterday's closing price of $3.96 per share. The board is recommending shareholders accept the offer.
Also roaring higher
Another company leaping higher today is ASX 200 tech share Block Inc (ASX: SQ2), the owner of Afterpay.
Shares in the global payments company are up 5.28% to $105.60.
Investors are snapping up shares on the ASX following a strong run yesterday (overnight Aussie time) for the company's NYSE-listed stock. Block closed the trading day up 8.0% in the United States during another strong day for tech shares, which saw the NASDAQ close up 1.6%
All up it's a good day for ASX buy now, pay later (BNPL) shares, with the Zip Co Ltd (ASX: ZIP) share price up 9.02%, while Sezzle Inc (ASX: SZL) shares are gaining 5.58% in afternoon trading.
ASX 200 tech share with a lithium footprint
Rounding off the list of ASX 200 tech shares roaring higher today we have Novonix Ltd (ASX: NVX).
Shares in the company, which operates in the lithium-ion battery industry, are up 8.52% to $2.42 apiece.
While Novonix also explores for lithium, it's the company's battery materials and battery technology segments that produce most of its revenue.
With no fresh news out of the ASX 200 tech share today, we suspect that some bullish words from Elon Musk, the world's richest man, may be having a positive impact.
Speaking at Tesla Motors (NASDAQ: TSLA) Q2 2022 earnings call, Musk said that lithium itself was fairly abundant on Earth. "The mining is relatively easy," he said, adding, "The refining is much harder."
"Lithium is actually very common," Musk said, "but you have to refine the lithium into battery grade lithium carbonate and lithium hydroxide, which has extremely high purity. So, it is basically like minting money right now."
Musk added that the lithium refining business is "a licence to print money".
