Santos suitor could offload key gas assets

Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 17 : 5-Apr-18

Mark Samter of Credit Suisse has identified the Cooper Basin infrastructure at the Moomba gas plant as one of the Santos assets that Harbour Energy could potentially agree to divest in order to secure approval from the Foreign Investment Review Board. Samter says Santos’s assets in Western Australia could also be earmarked for sale if the $A13.5bn takeover bid succeeds. Approval from the FIRB is widely seen as a key risk for Harbour’s bid.

CORPORATES
SANTOS LIMITED – ASX STO, HARBOUR ENERGY LIMITED, CREDIT SUISSE (AUSTRALIA) LIMITED, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, WATERMARK FUNDS MANAGEMENT PTY LTD, QUADRANT ENERGY PTY LTD, SOUTH AUSTRALIA. DEPT OF THE PREMIER AND CABINET, HONY CAPITAL, ENN GROUP

Rebranding a possibility for transformed Foxtel

Original article by Max Mason
The Australian Financial Review – Page: 15 : 4-Apr-18

News Corp has increased its stake in Foxtel to 65 per cent following the completion of the pay-TV company’s merger with Fox Sports. News Corp has indicated that integrating the two businesses is the immediate priority, and any decision on dropping the Foxtel branding is unlikely in the near-term. Foxtel may also launch new streaming services with their own branding, as part of its strategy to increase its customer base.

CORPORATES
FOXTEL MANAGEMENT PTY LTD, FOX SPORTS AUSTRALIA PTY LTD, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, TELSTRA CORPORATION LIMITED – ASX TLS, 21ST CENTURY FOX INCORPORATED, SKY PLC, WALT DISNEY COMPANY

Santos heats up with $13.5bn bid

Original article by Matt Chambers
The Australian – Page: 19 & 22 : 4-Apr-18

Analysts say that gaining Foreign Investment Review Board approval for its $A13.5bn bid for Santos will be the greatest hurdle for US-based Harbour Energy. Santos has granted due diligence after the private equity-backed firm offered $A6.50 per share, compared with an initial approach in August which was pitched at $A4.55 per share. Harbour Energy has flagged plans to expand Santos’s drilling program in the Cooper Basin and increase domestic gas supply if its bid succeeds.

CORPORATES
SANTOS LIMITED – ASX STO, HARBOUR ENERGY LIMITED, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, EIG GLOBAL ENERGY PARTNERS, ROYAL DUTCH SHELL PLC, ENN GROUP, HONY CAPITAL, WOODSIDE PETROLEUM LIMITED – ASX WPL

Not too late to unwind CFMMEU

Original article by David Marin-Guzman
The Australian Financial Review – Page: 6 : 28-Mar-18

The full bench of the Fair Work Commission will hear an appeal against the Construction, Forestry, Mining & Energy Union’s merger with the Maritime Union of Australia on 9 April. The merger formally took effect on 28 March, but the Australian Mines & Metals Association and Master Builders Australia believe that it can be overturned on legal grounds. The appeal will be based on the argument that a contempt court action against the MUA constitutes criminal proceedings, which would make the merger unlawful.

CORPORATES
CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, MARITIME UNION OF AUSTRALIA, AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIAN MINES AND METALS ASSOCIATION (INCORPORATED), MASTER BUILDERS AUSTRALIA INCORPORATED

M&A’s hot sectors to drive healthy flow

Original article by Joyce Moullakis
The Australian Financial Review – Page: 19 : 19-Mar-18

Data from Dealogic shows that $US13.1bn ($A17bn) worth of mergers and acquisitions have been announced so far in 2018, which is 25 per cent higher than the same period in 2017. Herbert Smith Freehills partner Tony Damian anticipates strong M&A activity during 2018, citing healthcare as a sector which is likely to continue to attract suitors. The law firm also identifies financial services, renewable energy and infrastructure as Australian sectors in which M&A activity is likely to be high.

CORPORATES
DEALOGIC (AUSTRALIA) PTY LTD, HERBERT SMITH FREEHILLS PTY LTD, WOODSIDE PETROLEUM LIMITED – ASX WPL, EXXONMOBIL CORPORATION, AWE LIMITED – ASX AWE, MITSUI AND COMPANY LIMITED, I-MED/MIA NETWORK LIMITED, PERMIRA PRIVATE EQUITY LIMITED, DEUTSCHE BANK AG, COALITION, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AMP LIMITED – ASX AMP, SUNCORP GROUP LIMITED – ASX SUN, WESFARMERS LIMITED – ASX WES, COLES SUPERMARKETS AUSTRALIA PTY LTD, QUALCOMM INCORPORATED, BROADCOM CORPORATION, UBS HOLDINGS PTY LTD, LAZARD PTY LTD, GOLDMAN SACHS AUSTRALIA PTY LTD, CREDIT SUISSE (AUSTRALIA) LIMITED, MACQUARIE CAPITAL PTY LTD

Credit Suisse picks top takeover targets

Original article by Simon Evans
The Australian Financial Review – Page: 18 : 14-Mar-18

Hasan Tevfik of Credit Suisse expects mergers and acquisitions activity in Australia to remain strong during 2018, citing factors such as healthy balance sheets and growing business confidence. Credit Suisse has identified 31 listed stocks that could potentially become takeover targets in 2018. They include Santos, Whitehaven Coal, Nine Entertainment Company, Fairfax Media, Ardent Leisure Group, DuluxGroup, Origin Energy and Caltex Australia.

CORPORATES
CREDIT SUISSE (AUSTRALIA) LIMITED, SANTOS LIMITED – ASX STO, WHITEHAVEN COAL LIMITED – ASX WHC, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED – ASX FXJ, ARDENT LEISURE GROUP – ASX AAD, DULUXGROUP LIMITED – ASX DLX, ORIGIN ENERGY LIMITED – ASX ORG, CALTEX AUSTRALIA LIMITED – ASX CTX, SEVEN WEST MEDIA LIMITED – ASX SWM, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, ADELAIDE BRIGHTON LIMITED – ASX ABC, NUFARM LIMITED – ASX NUF, PRIMARY HEALTH CARE LIMITED – ASX PRY, SYRAH RESOURCES LIMITED – ASX SYR, APA GROUP – ASX APA, BLACKMORES LIMITED – ASX BKL, CHALLENGER LIMITED – ASX CGF, TREASURY WINE ESTATES LIMITED – ASX TWE, PENFOLDS WINES PTY LTD, CHINA NATIONAL CEREALS, OILS AND FOODSTUFFS IMPORT AND EXPORT CORPORATION, WESTFIELD CORPORATION – ASX WFD, UNIBAIL-RODAMCO

Bosses fight CFMEU-MUA super union

Original article by David Marin-Guzman
The Australian Financial Review – Page: 6 : 9-Mar-18

The full bench of the Fair Work Commission will be asked to overturn the decision to approve a merger between the Construction, Forestry, Mining & Energy Union and the Maritime Union of Australia. The Australian Mines & Metals Association and Master Builders Australia will also seek a stay of the decision, which could give the Federal Government time to pass legislation to subject union mergers to a public interest test. Workplace Relations Minister Craig Laundy has urged the Opposition to support the bill.

CORPORATES
CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, MARITIME UNION OF AUSTRALIA, AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIAN MINES AND METALS ASSOCIATION (INCORPORATED), MASTER BUILDERS AUSTRALIA INCORPORATED, AUSTRALIA. DEPT OF JOBS AND SMALL BUSINESS, AUSTRALIAN LABOR PARTY, LIBERAL DEMOCRATIC PARTY, LIBERAL PARTY OF AUSTRALIA

Late push to stop creation of super-union

Original article by David Marin-Guzman
The Australian Financial Review – Page: 3 : 8-Mar-18

The Australian Mines & Metals Association believes that the Federal Government can still legislate to block the merger of the Construction, Forestry, Mining & Energy Union and the Maritime Union of Australia. AMMA has suggested amending the Ensuring Integrity Bill so the Government’s public interest test for union mergers applies before a date for amalgamation has been set. In the bill’s present form, the public interest test applies before a merger date has been set, but the Fair Work Commission has already set this for 27 March. The bill has yet to be put before the Senate.

CORPORATES
CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, MARITIME UNION OF AUSTRALIA, AUSTRALIAN MINES AND METALS ASSOCIATION (INCORPORATED), AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIA. DEPT OF JOBS AND SMALL BUSINESS, MASTER BUILDERS AUSTRALIA INCORPORATED, NICK XENOPHON TEAM, LIBERAL DEMOCRATIC PARTY, ONE NATION PARTY

CrownBet wins race for William Hill

Original article by Sarah-Jane Tasker
The Australian – Page: 28 : 7-Mar-18

CrownBet will become Australia’s third-largest wagering group after securing a deal to acquire the local arm of UK-based William Hill for $A300m. Rival bidder Sportsbet was trumped after CrownBet’s bid gained the support of its major shareholder, The Stars Group, which bought its controlling stake from Crown Resorts in 2017. William Hill chose to withdraw from the Australian market due to rising losses and a ban on credit betting.

CORPORATES
CROWNBET PTY LTD, WILLIAM HILL AUSTRALIA PTY LTD, WILLIAM HILL PLC, THE STARS GROUP, SPORTSBET AUSTRALIA, CROWN RESORTS LIMITED – ASX CWN, TABCORP HOLDINGS LIMITED – ASX TAH, BETSTARS, POKERSTARS, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, NORTHERN TERRITORY. RACING COMMISSION

Foxtel-Fox Sports merger hails new era in content

Original article by Darren Davidson
The Australian – Page: 21 : 7-Mar-18

Foxtel customers will have access to 201 channels after joint owners News Corp Australia and Telstra finalised a deal to merge the pay-TV company with News Corp’s fully-owned Fox Sports. Telstra will reduce its stake in Foxtel to 35 per cent as a result of the deal. Meanwhile, Foxtel CEO Patrick Delaney has flagged plans to launch a series of genre-based streaming video services, with the aim of targeting consumers who have shunned its traditional broadcast products.

CORPORATES
FOXTEL MANAGEMENT PTY LTD, FOX SPORTS AUSTRALIA PTY LTD, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, TELSTRA CORPORATION LIMITED – ASX TLS, NETFLIX INCORPORATED, 21ST CENTURY FOX INCORPORATED, COMCAST CORPORATION, SKY PLC, WALT DISNEY COMPANY