The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has started the week in disappointing fashion. In afternoon trade the benchmark index is down 1.2% to 6,113.4 points.
Four shares that have defied the market and climbed higher are listed below. Here's why they are starting the week with a bang:
The Asia Pacific Data Centre Group (ASX: AJD) share price has jumped 8% to $2.02 after NEXTDC Ltd (ASX: NXT) announced that it has agreed terms with its data centre landlord to acquire the remaining 70.8% of its shares it does not own via an unconditional all cash, on market takeover bid. 360 Capital Group Ltd (ASX: TGP), which owns 67.3% of the company, has stated that it intends to accept the offer in the absence of a superior proposal. The deal values the data centre owner at approximately $230 million.
The Baby Bunting Group Ltd (ASX: BBN) share price has zoomed 5% higher to $2.53 following the release of a bullish broker note out of Morgans. According to the note, the broker has retained its add rating and increased the price target on its shares to $2.78. Morgans believes that Baby Bunting could emerge as a category killer following the closure of many of its key competitors.
The Medical Developments International Ltd (ASX: MVP) share price has rocketed 16% higher to $5.67 after announcing plans to expand its Penthrox pain management product into China. The healthcare company advised that it has entered into an exclusive distribution and license agreement with Japan-based pharmaceutical giant Daiichi Sankyo Company for Penthrox in China, Thailand, and Vietnam. The two parties will also enter into a master service agreement with Japan's leading full clinical and regulatory service provider, EPS International, to get Penthrox approved for sale in China.
The MYOB Group Ltd (ASX: MYO) share price has stormed 18% higher to $3.52 after the accounting software company announced a takeover approach from private equity firm KKR. The firm is proposing to acquire all the MYOB shares it doesn't own for $3.70 cash per share. The MYOB board has commenced an assessment of the proposal and will update the market when there's something to report.
