CAPITALISTS AND FINANCIERS – AUSTRALIA

Investors weary from IPO oversupply

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Original article by Vanessa Desloires
The Australian Financial Review – Page: 26 : 17-Jul-14

Monash IVF, Mantra Group and 3P Learning are among the Australian stocks that have underperformed since their sharemarket float in recent months. Simon Conn of Investors Mutual attributes this to factors such as the high level of IPO activity and the fact that many of these floats are businesses that have been sold by private equity groups. However, Gary Nicholson of Ernst & Young rejects suggestions of "deal fatigue" among investors

CORPORATES
MONASH IVF GROUP LIMITED – ASX MVF, MANTRA GROUP LIMITED – ASX MTR, 3P LEARNING LIMITED – ASX 3PL, SMARTGROUP CORPORATION LIMITED – ASX SIQ, ASALEO CARE LIMITED – ASX AHY, INVESTORS MUTUAL LIMITED, ERNST AND YOUNG, PENGANA EMERGING COMPANIES FUND, OC FUNDS MANAGEMENT

Tinkler skips out on Wilkie Creek

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Original article by Gretchen Friemann, James Chessell
The Australian Financial Review – Page: 15& 20 : 9-Jul-14

Businessman Nathan Tinkler has missed a payment on his $A150 million acquisition of the Wilkie Creek coal mine in Queensland. It is thought that Peabody Energy has granted an extension on the payment, which was due on 30 June 2014. However, uncertainty about Tinkler’s financial position has brought back the underbidders. Stanmore Coal offered nearly $A20 million, excluding liabilities, for the mine

CORPORATES
STANMORE COAL LIMITED – ASX SMR, PEABODY ENERGY CORPORATION, JEFFERIES AND COMPANY, LEUCADIA NATIONAL CORPORATION, PATINACK FARM PTY LTD, UBS AG, BENTLEY RESOURCES PTE LTD

$200m peace offer for Lew

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Original article by Sue Mitchell, Sarah Thompson
The Australian Financial Review – Page: 1-Oct : 25-Jun-14

Australian retailing identity Solomon Lew in 1997 acquired a blocking stake of 11.8% in Country Road. In 2014, he has duplicated the move by building a holding of 9.9% in David Jones (DJs). The takeover suitor in both cases is South Africa’s Woolworths, which has now been forced by Lew’s tactics to buy him out of Country Road and to offer $A17 a share. This is an increase of nearly 400% from the on-market price in early 2014. In exchange Woolworths will also be able to move to full ownership of DJs. Insiders say Woolworths had been keen to take control of Country Road in any case

CORPORATES
COUNTRY ROAD LIMITED – ASX CTY, DAVID JONES LIMITED – ASX DJS, WOOLWORTHS HOLDINGS LIMITED, PREMIER INVESTMENTS LIMITED – ASX PMV, NM ROTHSCHILD AND SONS (AUSTRALIA) LIMITED, GILBERT AND TOBIN LAWYERS, GREENHILL AND COMPANY, ARNOLD BLOCH LEIBLER, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIA. TAKEOVERS PANEL, FEDERAL COURT OF AUSTRALIA, AUSTRALIAN RETAIL INVESTMENTS PTY LTD, MIMCO PTY LTD, WITCHERY FASHIONS PTY LTD, MYER HOLDINGS LIMITED – ASX MYR, TRENERY

How will Lachlan Murdoch and James Packer react to Ten bid?

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Original article by James Thomson
The Australian Financial Review – Page: 20 : 24-Jun-14

US-based Providence Equity Partners is said to be preparing for a possible takeover of Australian-listed free-to-air TV group Ten Network. The reactions to such a bid by the four main stockholders will vary. Lachlan Murdoch and James Packer have suffered substantial losses on their investments in the company, and may be content to depart despite having to sell at about $A0.245 a share when they had bought in at $A1.50. Equally relieved to exit may be mining heiress Gina Rinehart, whose limited media sector exposure also includes Fairfax Media. The most likely to keep the faith that Ten will be turned around is TV industry stalwart Bruce Gordon, who owns 15%

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, FAIRFAX MEDIA LIMITED – ASX FXJ, PROVIDENCE EQUITY PARTNERS INCORPORATED, ITV PLC, ITV NETWORK LIMITED, NEWS CORPORATION – ASX NWS, WIN TELEVISION PTY LTD, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIAN BROADCASTING CORPORATION, SPECIAL BROADCASTING SERVICE (SBS)

Lew ups stake in DJs to 9.9pc

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Original article by Sue Mitchell
The Australian Financial Review – Page: 19/24 : 6/19/2014

The takeover worth $A2.2bn of Australian department stores chain David Jones (DJs) by South Africa’s Woolworths will need to be approved by DJs shareholders in a vote on 30 June 2014. However, a complication may have arisen under collateral benefits law, as retailing sector stalwart Solomon Lew has disclosed he now holds 9.9% of the target. While his motives are not clear, there is speculation he wants to push Woolworths into buying his 11.8% blocking stake in Country Road. Such a side deal would attract scrutiny by the Australian Securities & Investments Commission and the Takeovers Panel

CORPORATES
DAVID JONES LIMITED – ASX DJS, COUNTRY ROAD LIMITED – ASX CTY, WOOLWORTHS HOLDINGS LIMITED, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIA. TAKEOVERS PANEL, AUSTRALIAN RETAIL INVESTMENTS PTY LTD, CORRS CHAMBERS WESTGARTH, GOLDMAN SACHS AUSTRALIA PTY LTD, BLACKROCK INCORPORATED, DEUTSCHE BANK AG, ALLAN GRAY AUSTRALIA PTY LTD, AUSBIL DEXIA LIMITED, PERPETUAL INVESTMENTS, PERPETUAL LIMITED – ASX PPT, PENGANA CAPITAL LIMITED, BT INVESTMENT MANAGEMENT LIMITED – ASX BTT