Why is EQT Holdings stock surging today?

EQT Holdings' stock surged nearly 10% to A$22.18 on Friday following BGH Capital's unsolicited takeover proposal. The Australian private equity firm submitted a non-binding offer valuing EQT at A$663 million, or A$24.75 cash per share, which is higher than the current TPG Global bid of A$24.55 per share. The competitive bidding dynamic has driven the stock to a day high of A$23.10, with EQT's share price recovering from a 52-week low of A$14.70.

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