Canadians pay up big for Asciano

Original article by Jenny Wiggins
The Australian Financial Review – Page: 1&8 : 19-Aug-15

The board of Asciano has issued a recommendation to investors to accept a takeover offer from Brookfield Infrastructure. Investors will receive $A9.15 a share if the $A8.9 billion bid for the Australian-listed port and rail group is successful. Some fund managers doubt whether losing another Australian company to foreign buyers is in Australia’s interest.

CORPORATES
BROOKFIELD INFRASTRUCTURE PARTNERS LP, ASCIANO LIMITED – ASX AIO, PATRICK CORPORATION LIMITED, RIO TINTO LIMITED – ASX RIO, MACQUARIE GROUP LIMITED – ASX MQG, BHP BILLITON LIMITED – ASX BHP, TOLL HOLDINGS LIMITED, SABMILLER PLC, JAPAN POST COMPANY LIMITED, COLONIAL FIRST STATE GLOBAL ASSET MANAGEMENT, ARGO INVESTMENTS LIMITED – ASX ARG, ASX LIMITED – ASX ASX, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION

Hockey did foreign buyers a favour

Original article by Michael Bleby
The Australian Financial Review – Page: 45 : 13-Aug-15

Real estate agents have this advice for foreign property owners ordered to sell up because they have breached foreign investment rules – do so sooner rather than later. The agents believe the Sydney market in particular has topped out. Of the six properties to be sold under orders from Treasurer Joe Hockey, one is in Sydney’s Fairfield, where prices have surged 33 per cent in 12 months. A crash is not predicted, but agents are starting to see fewer bidders at auctions.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, CENTURY 21, DOMAIN.COM.AU, FAIRFAX MEDIA LIMITED – ASX FXJ, McGRATH ESTATE AGENTS, BELLE PROPERTY PTY LTD, RAY WHITE GROUP, LAURIE KELLY REAL ESTATE