In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is back on form and charging higher. At the time of writing, the benchmark index is up 0.8% to 7,903.8 points.
Four ASX shares that are rising more than Most today are listed below. Here's why they are climbing:
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Avjennings Ltd (ASX: AVJ)
The Avjennings share price is up 7% to 65 cents. This morning, the residential land and housing developer revealed that it has accepted a takeover offer from an investment vehicle of Proprium Capital Partners Australia and Property Group. The parties have agreed on a deal that will see shareholders receive $0.655 cash consideration per share. The company stated: "AVJennings' Board of Directors unanimously recommend that AVJ shareholders vote in favour of the Scheme, in the absence of a superior proposal and subject to an independent expert concluding (and continuing to conclude) that the Scheme is in the best interests of the AV shareholders."
Black Cat Syndicate Ltd (ASX: BC8)
The Black Cat Syndicate share price is up 6% to $1.02. This morning, the gold miner announced the completion of the 1.2Mtpa Lakewood processing facility acquisition. It is now part of the 100% owned Kal East Gold Operation. This deal is inline with the company's more gold, sooner strategy. Black Cat's Managing Director, Gareth Solly, said: "Black Cat has taken a transformational step forward now that Lakewood is under the Company's ownership. With processing starting immediately, the more gold sooner strategy is underway."
Evolution Mining Ltd (ASX: EVN)
The Evolution share price is up 2.5% to $7.28. This follows another strong rise for the gold price overnight. Traders were bidding the precious metal higher ahead of the start of US trade tariffs. It isn't just Evolution Mining that is pushing higher today. There are gains across the industry, which has led to the S&P/ASX All Ordinaries Gold (XGD) index rising 0.7% today.
Southern Cross Electrical Engineer Ltd (ASX: SXE)
The Southern Cross Electrical Engineer share price is up a further 11% to $1.84. Investors have been buying SCEE shares this week after it announced the acquisition of Force Fire Holdings. It is a leading New South Wales and Queensland-based provider of fire safety solutions to the commercial and industrial sectors. SCEE is paying an initial upfront consideration of $36.3 million. This could increase to a total consideration of up to $53.5 million if the business delivers on its EBIT growth targets in FY 2026 and FY 2027.
