ASX Announcements
Notice of Annual General Meeting and Proxy Form
Notice of Annual General Meeting, Proxy Form
- Sep 13, 2024
- 15 pages
This Month
One big deal brings a second, but are Orora shareholders better off?
It was impossible to predict the packaging group’s whirlwind year of deals. If you can put emotions aside, the latest transaction looks good for investors.
- Anthony Macdonald
Orora sells US business for $1.78b to private equity-backed group
Chief executive says it is better off as a specialist glass bottle and aluminium can maker, and is unclear if Lone Star will return with another buyout bid.
- Simon Evans
August
Will Lone Star juice up its bid for Orora? Shareholders discuss
Street Talk understands shareholders are debating whether the US private equity firm will come back with a $2.70 offer.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Investment bankers (but not Barrenjoey) feast on Orora
This was a boring company, offering boring but profitable returns. And then, it went and blew its brains out.
- Myriam Robin
Orora mulls $2b-plus US asset sale, says strife in Europe just a blip
But the glass bottles and cans manufacturer slashes returns to investors after managing a rise in net profit of just 0.2 per cent over the financial year.
- Simon Evans
Adviser gigs emerge on all sides of Orora melee
Citi, which assisted with a $1.35 billion equity raising last year for Orora, is on defence.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Orora confesses to Lone Star approach, eyes on Apollo
Apollo dealmakers and CEO Marc Rowan have ramped up their visits to Australia, and cut the ribbon on a Sydney office a few years ago.
- Sarah Thompson, Kanika Sood and Emma Rapaport
‘Trifecta of awfulness’ by Orora led to $3.3b bid
Orora’s shares soared 19 per cent after it rejected a buyout proposal from private equity firm Lone Star because it “materially undervalues” the company.
- Simon Evans
Lone Star makes its presence known to target Orora
Orora has dusted nearly $400 million from its valuation since splashing out $2.2 billion to buy France’s Saverglass last September.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Orora taps UBS as private capital lurks after $2.2b Saverglass buy
Should Orora’s share price pain attract a bidder, it would end the former Amcor unit’s 11-year stay on the ASX boards.
- Sarah Thompson, Kanika Sood and Emma Rapaport
July
Project Open: Barrenjoey seeks $182m for Orora activist push
Street Talk understands the home-grown investment bank tried to pull together a syndicate of investors in April to nab a 10 per cent stake and agitate for change.
- Sarah Thompson, Kanika Sood and Emma Rapaport
June
Buying the dip? Seven trashed ASX stocks fundies are snapping up
Lovisa, Worley and Orora are among the recent laggards that fund managers have been buying at – what they believe – are rare discounts.
- Joshua Peach
April
- Opinion
- Chanticleer
Packaging group hits the turps, investors stuck with the hangover
A once boring packaging company is doing what it can to make investors more wary of big offshore M&A.
- Updated
- Anthony Macdonald
Orora flags earnings pain at its big French acquisition Saverglass
The ASX-listed bottle manufacturer purchased the 126-year-old business last year. On Tuesday, it said orders were lower than expected, sending shares lower.
- Simon Evans
February
ASX-listed companies poised to swoop on IPO hopefuls
Herbert Smith Freehills’s legal eagles say there’s a wealth of opportunities for established companies to acquire targets which have been pitched for IPO.
- Sarah Thompson, Kanika Sood and Emma Rapaport
December 2023
Hennessy bottle maker tips a no growth year
The newly acquired French spirit bottle maker will deliver flat earnings in 2023-24 because of soft demand, in a blow for Orora investors.
- Simon Evans
Bottle maker Orora’s $2.2b French buy gives investors a hangover
Orora shares are off 24 per cent since its largest acquisition, but the company’s chief executive, Brian Lowe, says he will be proven right in time.
- Simon Evans
October 2023
Barrenjoey, UBS, Macquarie top ECM league tables after Q3 raising rush
A trio of top-tier investment banks are angling for a top spot on the equity capital markets league table.
- Sarah Thompson, Kanika Sood and Emma Rapaport
September 2023
Fortescue says first energy projects will ‘prime the pump’ on value
Fortescue admits its clean energy projects will have lower rates of return than most iron ore growth options. But it’s determined to take a broad view of value
- Peter Ker and Elouise Fowler
Orora’s $1.35b raise gets insto support despite big discount
Can and bottle maker Orora’s $1.35 billion equity raising to buy France’s Saverglass had been expected since August 27.
- Sarah Thompson, Kanika Sood and Emma Rapaport