Today
EnergyAustralia, Alinta merger would shake up electricity and gas supply
Private equity giants are sniffing around a “once in a blue moon” chance to combine EnergyAustralia and Alinta, making a motza from what’s left of coal power.
Yesterday
The art of (closing) the deal is a minefield for merger arb funds
Local markets have not been a happy place for investors hoping to leverage takeover transactions, and a relatively high percentage of buyouts just don’t close.
This Month
AWU says Chalmers must put big conditions on $36b Santos takeover
The influential union wants the ASX-listed oil and gas producer’s Abu Dhabi suitor to sell more gas in Australia in exchange for foreign investment approval.
Think Santos is a FIRB headache? Austal is another thing altogether
Treasurer Jim Chalmers will have to make some big calls on allowing foreign investors to buy up critical Australian energy and defence assets this year.
Mystery at the heart of $20m in PointsBet shares
You know a prospective offer is a good deal when it offers payouts for performance not yet delivered.
Booktopia owner digiDirect snaps up video game hardware business Mwave
The computer accessories and hardware retailer had been backed by private equity firms including Anacacia Capital but fell into administration this month.
Fears new fees could kill takeover deals
Investors and business groups have been shocked by the size of the new fees to assess mergers and acquisitions.
Cosette terminates $672m Mayne Pharma deal as legal challenge looms
The private-equity backed American giant began reviewing the deal two weeks ago because of concerns about its target’s financial performance since it first bid.
CoStar considers Domain rebrand after buying Homes.com.au
The American real estate giant’s chief executive, Andy Florance, says the purchase of the domain name will give him “optionality” in the future.
Soul Patts ends 56-year Brickworks tie-up with $14b merger plan
The Millner family will emerge with a $1 billion stake in the conglomerate which will sprawl from mining investments and private equity to building materials.
US urges $40b defence spend; Soul Patts’ $14b tie-up; Big bubble looms
Read everything that’s happened in the news so far today.
May
Chemist Warehouse insiders dump shares worth $4.7b in mass exit
One franchisee sold their entire $650 million stake in the pharmacy giant after its backdoor listing, according to analysis of the shareholder register.
James Hardie quietly discloses debt blowout in $14b Azek deal
Newly filed documents show rising bridging loan expenses for a transaction that has already widely been panned by the building materials giant’s shareholders.
IAG gets regulator tick to buy automobile club insurer in Queensland
The ACCC said Suncorp, Allianz, QBE, Youi, Auto & General and Hollard would compete with IAG after it buys RACQ.
Mayne Pharma shares crash after suitor Cosette threatens to walk
Shares in the drug company fell 30 per cent on Wednesday after its takeover suitor said there had been a material adverse change in its performance.
Booktopia’s new owner swoops on library supplier James Bennett
DigiDirect snapped up the collapsed online book retailer last year and is using its high-tech new distribution facilities to find other growth opportunities.
Australian defence start-ups target Europe as it rearms
Military technology firms are profiting from geopolitical instability, with Canberra-based Penten among those hoping to win contracts in the European market.
The billionaire, his $80b gorilla mate and Storage King’s clean-up job
An offshore giant is trying to use structural issues at the No.2 self-storage player to get set in Australia. The local leader is pushing back. Who will win?
April
Fonterra’s $4b Mainland spin-off leaves Bega with a sour taste
The New Zealand farmers co-operative has high hopes for its consumer business auction. But a legal stoush has made it hard for an obvious suitor.
This $US1b-plus cash bid is a real test of valuations in jumpy markets
Who would have thought Australia would be home to the only $US1 billion-plus cash M&A deal globally since ‘liberation day’?