Fed-up fund managers are sick of private equity bidders walking away from binding takeover agreements and are taking matters into their own hands.
The latest spotfire is at ASX-listed financier CML Group, where Affinity Equity Partners-owned rival Scottish Pacific is trying to walk away from a binding $130 million deal (as we revealed on Sunday).
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
Tim Boyd is a journalist, based in Sydney, who writes for the Street Talk column. Connect with Tim on Twitter. Email Tim at tim.boyd@afr.com
