Street Talk

Malteries Soufflet signs binding deal to buy United Malt at $5 a share

Sarah Thompson, Emma Rapaport and Kanika Sood

Jul 2, 2023 – 6.24pm

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France’s Malteries Soufflet has returned from its lengthy due diligence at ASX-listed maltster United Malt with a binding bid to buy the company at $5 a share, Street Talk can reveal.

It is understood the two parties signed the deal over the weekend. United Malt’s board would recommend the transaction and is expected to announce it on the ASX come Monday morning.

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.

Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review.

Kanika Sood is a journalist based in Sydney who writes for the Street Talk column.