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Australia's G8 Education soars on $134 million buyout offer

By Reuters News

** Shares of G8 Education GEM.AX rise 85% to A$0.1850, their highest level since April 28

** The early childhood and care provider receives takeover offer from Majority Capital Partners at A$0.26 per share, valuing co at A$196.7 million ($134.72 million)

** Offer price represents a premium of 160% to stock's last close

** Stock on track for record one-day pct gain if trends hold

** About 13.2 mln shares change hands, 5.5x the 30-day average of 2.4 mln

** Stock down 73.2% YTD, including moves in current session


($1 = 1.4601 Australian dollars)

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