Hutchison in bid to end ports duopoly

July 25, 2014July 25, 2014roymorgansocial Leave a comment

Original article by Bridget Carter
The Australian – Page: 18 : 25-Jul-14

Stephen Gumley, CEO in Australia for Hutchison Ports, on 24 July 2014 launched its new container terminal at Port Botany in Sydney. He also said the stevedoring group would seek to win a new ally in the shape of International Container Terminal Services (ICTS), to create increased competition for the current effective duopoly in the sector of Asciano-owned Patrick and DP World Australia. ICTS will open a facility at the Port of Melbourne after 2015. It is based in the Philippines and Hutchison in Hong Kong

US giant wants a piece of Quickflix

July 24, 2014July 25, 2014roymorgansocial Leave a comment

Original article by Mitchell Bingemann|Darren Davidson
The Australian – Page: 19 & 27 : 24-Jul-14

Following news that free-to-air TV group Nine Entertainment had acquired a stake of 8% in listed DVD rentals and video streaming provider Quickflix, the latter has become a target for other media sector groups as well. It is believed that US-based Netflix, which operates a business similar to that of Quickflix but far larger, has approached the Australian company with an offer. Netflix is set to enter the local market soon. Stephen Langsford, CEO of Quickflix, has also sought to attract News Corp Australia and Seven West Media as investors

Big offer for Lew’s Country Road stake

July 22, 2014roymorgansocial Leave a comment

Original article by Sue Mitchell
The Australian Financial Review – Page: 11 : 22-Jul-14

Country Road executives have advised shareholders to accept Woolworths Holdings’ offer of $A17 per share. Businessman Solomon Lew has an 11.8 per cent stake in the retailer, and his support for the offer is crucial if Woolworths is to gain full ownership. An independent expert’s report by Lonergan Edwards & Associates has valued Country Road shares at between $A14.92 and $A16.22

CORPORATES
COUNTRY ROAD LIMITED – ASX CTY, WOOLWORTHS HOLDINGS LIMITED, LONERGAN EDWARDS AND ASSOCIATES LIMITED, DAVID JONES LIMITED – ASX DJS, FEDERAL COURT OF AUSTRALIA, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, WITCHERY FASHIONS PTY LTD, MIMCO PTY LTD

Ten in play as US giants move in

July 21, 2014roymorgansocial Leave a comment

Original article by Darren Davidson
The Australian – Page: 19 : 21-Jul-14

US-based media groups such as Liberty, Viacom and Discovery have been acquiring businesses in the broadcasting sector in Europe. The interest is forecast to extend to Australia, where an obvious target is third-ranked free-to-air TV provider Ten Network. CEO Hamish McLennan acknowledges the foreign investment trend. However he is not revealing anything about recent rumours that UK-based ITV, itself a target of Liberty, has held talks with Ten. Meanwhile McLennan notes that the move by Ten to reduce its news coverage has lifted its audience ratings

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, SEVEN WEST MEDIA LIMITED – ASX SWM, ITV PLC, ITV NETWORK LIMITED, LIBERTY GLOBAL INCORPORATED, DISCOVERY COMMUNICATIONS INCORPORATED, VIACOM INCORPORATED, CHANNEL 5 BROADCASTING LIMITED, EUROSTAT, NETFLIX INCORPORATED, BRITISH SKY BROADCASTING GROUP PLC, SKY DEUTSCHLAND AG, SKY ITALIA SPA

Lew’s big win: DJs deal to go ahead

July 18, 2014roymorgansocial Leave a comment

Original article by Sue Mitchell
The Australian Financial Review – Page: 13 &20 : 18-Jul-14

Federal Court of Australia judge Kathleen Farrell on 17 July 2014 approved the takeover by South Africa’s Woolworths of department stores chain David Jones (DJs). Solomon Lew, a DJs stockholder with 9.9%, has struck a side deal with Woolworths, to accept the DJs bid if the suitor also buys his 11.8% in retailer Country Road to move to full ownership. Lew will gain $A212m. John Halley SC, on behalf of the Australian Securities & Investments Commission, told Farrell it was opposed to the collateral benefit aspect of the agreement, but would not block the takeover

CORPORATES
DAVID JONES LIMITED – ASX DJS, COUNTRY ROAD LIMITED – ASX CTY, WOOLWORTHS HOLDINGS LIMITED, FEDERAL COURT OF AUSTRALIA, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIA. TAKEOVERS PANEL

Iluka silent on Kenmare tilt

July 17, 2014roymorgansocial Leave a comment

Original article by Barry FitzGerald
The Australian – Page: 18 : 17-Jul-14

Australian-listed Iluka Resources has issued its production data for the quarter ending 30 June 2014, but the report did not make any mention of its takeover bid for UK-based Kenmare Resources. Iluka had recently been unveiled by the UK media as the suitor in a planned $A780m acquisition of Kenmare, which is attractive due to its Moma mineral sands mine in Mozambique. Iluka shares on 16 July closed 4% higher at $A8.53, as the output figures showed a year-on-year increase for zircon, rutile and synthetic rutile of 5.9% to 252,000 tonnes

CORPORATES
ILUKA RESOURCES LIMITED – ASX ILU, KENMARE RESOURCES PLC, ASX LIMITED – ASX ASX, M&G INVESTMENT MANAGEMENT LIMITED

Platinum moves in on emerging Asia

July 16, 2014roymorgansocial Leave a comment

Original article by Vesna Poljak
The Australian Financial Review – Page: 28 : 16-Jul-14

Platinum Asset Management founder Kerr Neilson is increasing his fund’s exposure to Asian markets. Neilson believes that Chinese companies have good growth prospects, which will be reflected in their share prices. The fund is buying Asian stocks in sectors such as financials, metals, minerals and software development

CORPORATES
PLATINUM ASSET MANAGEMENT LIMITED – ASX PTM, PLATINUM CAPITAL LIMITED – ASX PMC, MORGAN STANLEY CAPITAL INTERNATIONAL INDEX, ZILLOW.COM, QIWI PLC, AMADEUS GLOBAL TRAVEL DISTRIBUTION SA, F HOFFMAN-LA ROCHE LIMITED, F HOFFMAN-LA ROCHE AG, YONYOU SOFTWARE COMPANY LIMITED, TOYOTA MOTOR CORPORATION, HOYA CORPORATION, ROHM COMPANY LIMITED, SBI HOLDINGS INCORPORATED, SUMITOMO METAL MINING CORPORATION, NORILSK NICKEL, MINING AND METALS COMPANY NORILSK NICKEL, CANADIAN OIL SANDS LIMITED, CHINA LIFE INSURANCE COMPANY LIMITED, CHINA PACIFIC INSURANCE COMPANY (GROUP) LIMITED, YANDEX NV, TENCENT HOLDINGS LIMITED, YOUKU TUDOU INCORPORATED, LINKEDIN LIMITED

Expedia’s offer brings up many Wotifs for sector

July 15, 2014roymorgansocial Leave a comment

Original article by Adir Shiffman
The Australian Financial Review – Page: 25 : 15-Jul-14

The acquisition of Australian-listed online travel bookings provider Wotif.com by Expedia is not a positive development for Australia. The deal is likely to have a negative impact on competition in the hotel bookings sector. There will be fewer jobs in the industry and a loss of expertise and talent. It is surprising that Wotif capitulated so quickly and accepted the takeover offer. Several years ago, Wotif was considered to be in the same category as SEEK and REA Group

CORPORATES
WOTIF.COM HOLDINGS LIMITED – ASX WTF, EXPEDIA INCORPORATED, SEEK LIMITED – ASX SEK, REA GROUP LIMITED – ASX REA, BOOKING.COM BV, AGODA COMPANY PTE LTD, ORBITZ INCORPORATED, ASX LIMITED – ASX ASX, TRAVEL.COM.AU LIMITED, HOTELS.COM LP, TRIPADVISOR LLC, HOTELCLUB, DISRUPTIVE INVESTMENT GROUP LIMITED – ASX DVI, CATAPULT SPORTS PTY LTD

South Africans wrap up DJs

July 15, 2014roymorgansocial Leave a comment

Original article by Blair Speedy
The Australian – Page: 21-22 : 15-Jul-14

Gordon Cairns, chair of Australian-listed department stores chain David Jones (DJs), has announced that the takeover bid worth $A4 a share by South Africa’s Woolworths has been accepted. Support among investors was strong, with 50% of stockholders required to vote "yes" and the actual result being 89.6%. In terms of voted scrip, the 75% needed compares with an outcome of 96.8%. Entrepreneur Solomon Lew will sell his 9.9% holding into the scheme of arrangement and has abstained from the vote, meaning the deal can be ratified by the Federal Court on 17 July 2014. Lew will now also gain $A209m from the suitor for his interest of 11.8% in Country Road

CORPORATES
DAVID JONES LIMITED – ASX DJS, COUNTRY ROAD LIMITED – ASX CTY, WOOLWORTHS HOLDINGS LIMITED, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, FEDERAL COURT OF AUSTRALIA, WITCHERY FASHIONS PTY LTD, MIMCO DESIGNS PTY LTD, ASX LIMITED – ASX ASX

Air NZ ‘adamant’ Virgin stays listed

July 14, 2014roymorgansocial Leave a comment

Original article by Jamie Freed
The Australian Financial Review – Page: 13 & 18 : 14-Jul-14

Air New Zealand (NZ) is Virgin Australia’s largest shareholder, with a 25.99 per cent stake. The carrier, Singapore Airlines, Etihad Airways and Virgin Group have a combined stake of 79.4 per cent in Virgin Australia, but Air NZ CFO Rob McDonald has downplayed speculation that they could seek to privatise the airline. He stresses the importance of maintaining a sharemarket listing, while he has ruled out spinning off Air NZ’s frequent flyer program in the near-term

CORPORATES
VIRGIN AUSTRALIA HOLDINGS LIMITED – ASX VAH, AIR NEW ZEALAND LIMITED – ASX AIZ, SINGAPORE AIRLINES LIMITED, ETIHAD AIRWAYS, VIRGIN GROUP LIMITED, QANTAS AIRWAYS LIMITED – ASX QAN, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, MOODY’S INVESTORS SERVICE INCORPORATED

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