Some are taking Gina Rinehart’s move on Lynas Rare Earths this week as a signal that the deal for Chile’s SQM to buy the lithium miner Azure Minerals will gain regulatory approval.
SQM is yet to gain Foreign Investment Review Board approval to buy Azure with Rinehart’s Hancock Prospecting, and there have been suggestions there could be some risk the transaction gets blocked.
However, the understanding is that the delay is more to do with the FIRB’s limited resources.
It’s believed to be a similar situation with a sale of the Lendlease communities business to Stockland, with the ACCC extending its time frame for assessment on Wednesday.
Hancock emerged with a 5.82 per cent stake in Lynas on Tuesday night, in what is thought to be part of a wide bet across the sector.
Yet some have taken the purchase as a signal that her view is the Azure deal will gain the green light from FIRB.
If not, the entire battery minerals sector would re-rate lower, creating better buying opportunities later on.
Healius-ACL recently revived merger talks: sources
Two of the country’s top pathology services providers, Healius and Australian Clinical Labs, are understood to have resumed talks about a potential $2bn tie-up, say market sources.
Sweeping changes at the top of Healthscope
Brookfield is ringing the changes at the top of its embattled private hospital operator Healthscope, with a top restructuring expert taking the reins as its next chief executive.