By Stuart Condie


SYDNEY--Brambles Ltd. shares jumped to an eight-month high after the Australia-listed pallet supplier said it was in takeover talks with CVC Capital Partners.

Brambles on Monday said that talks regarding an unsolicited proposal by the private-equity firm to acquire the whole of the company were incomplete and not guaranteed to result in a formal proposal.

It didn't give any detail with regard to the value of any proposal, which Australian newspapers reported could be worth about 20 billion Australian dollars (US$13.88 billion).

The stock was 11% higher at A$11.58 after rising as high as A$11.82 in early trade, its highest level since September 2021. The jump boosted Brambles's market capitalization to about A$16.6 billion and made the stock the best-performing ASX 200 component.

Brambles said its board was focused on its current transformation plan and considering other strategic options to maximize shareholder value.


Write to Stuart Condie at stuart.condie@wsj.com


(END) Dow Jones Newswires

05-15-22 2140ET