Original article by Ewin Hannan
The Australian Financial Review – Page: 11 : 4-Mar-16
The ACTU’s former assistant secretary Tim Lyons says mergers between trade unions have failed to arrest a decline in union membership. He argues that most mergers have been unsuccessful, and unions should develop strategies to ensure that the outcomes of future mergers meet expectations.
CORPORATES
ACTU, PER CAPITA AUSTRALIA LIMITED
Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 17 & 24 : 4-Mar-16
Market watchers have suggested a number of future strategies for Origin Energy, including a demerger or merging its oil and gas assets with Santos. Origin MD Grant King says the group has not ruled out any of the options that have been mooted, but he notes that all such deals would be complex and take time to complete. Meanwhile, King has downplayed concerns about a modest delay in progress on completing the first two production trains at the Australia Pacific LNG project in Queensland.
CORPORATES
ORIGIN ENERGY LIMITED – ASX ORG, AUSTRALIA PACIFIC LNG LIMITED, SANTOS LIMITED – ASX STO, CREDIT SUISSE (AUSTRALIA) LIMITED, CONOCOPHILLIPS, SINOPEC CORPORATION, BECHTEL GROUP, KANSAI ELECTRIC POWER COMPANY INCORPORATED, QUEENSLAND. DEPT OF THE PREMIER AND CABINET
Original article by Darren Davidson, Jake Mitchell
The Australian – Page: 19 & 22 : 4-Mar-16
Shares in Nine Entertainment Company closed 3.42 per cent higher at $A1.51, amid revelations that an unknown buyer purchased 3.4 per cent of its shares via Deutsche Bank. The $A50m transaction was executed at $A1.60 per share, prompting speculation that Nine may become a takeover target. Fairfax Media has been touted as a potential suitor if cross-media ownership laws are relaxed, but the group has downplayed such speculation.
CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED – ASX FXJ, DEUTSCHE BANK AG, NINE NETWORK AUSTRALIA LIMITED, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, DOMAIN.COM.AU, WIN CORPORATION PTY LTD, CREDIT SUISSE (AUSTRALIA) LIMITED, MACQUARIE GROUP LIMITED – ASX MQG, GOOGLE INCORPORATED, FACEBOOK INCORPORATED, STAN ENTERTAINMENT PTY LTD, TEN NETWORK HOLDINGS LIMITED – ASX TEN, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL
Original article by Dominic White
The Australian Financial Review – Page: 21 : 3-Mar-16
The Ten Network is believed to have held preliminary talks with regional affiliate Southern Cross Media Group about acquiring its TV assets if cross-media ownership laws are relaxed. It is expected that Ten would have to undertake a capital raising to finance the acquisition, with Southern Cross’s TV assets estimated to be worth between $A100m and $A120m. The two groups are also holding talks regarding the renewal of their affiliation agreement. Southern Cross has indicated in the past that radio assets are its priority.
CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, TRIPLE M CORPORATION PTY LTD, HIT NETWORK, FOXTEL MANAGEMENT PTY LTD, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, APN NEWS AND MEDIA LIMITED – ASX APN
Original article by Amanda Saunders
The Australian Financial Review – Page: 13 & 18 : 1-Mar-16
A growing number of large Australian mining companies are looking to capitalise on the downturn in commodity prices to pursue acquisitions. South32 CEO Graham Kerr says many companies are likely to be reluctant to offload distressed assets, adding that the real impact of lower commodity prices is unlikely to be felt for another six months. Kerr acknowledges that South32’s healthy balance sheet means it is better-placed that many rivals to seek acquisitions, but he stresses that the group will not rush into any deals.
CORPORATES
SOUTH32 LIMITED – ASX S32, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, FORTESCUE METALS GROUP LIMITED – ASX FMG, UBS HOLDINGS PTY LTD
Original article by Ewin Hannan
The Australian Financial Review – Page: 1 &4 : 29-Feb-16
Master Builders Australia CEO Wilhelm Harnisch says a proposed merger between the Construction, Forestry, Mining & Energy Union and the Maritime Union of Australia could have significant implications for industrial relations. Federal Employment Minister Michaelia Cash has also expressed concern about the merger’s potential impact on jobs, productivity and the economy. Meanwhile, MUA national secretary Paddy Crumlin has flagged further merger with other unions if the deal with the CFMEU proceeds.
CORPORATES
CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, MARITIME UNION OF AUSTRALIA, MASTER BUILDERS AUSTRALIA INCORPORATED, AUSTRALIA. DEPT OF EMPLOYMENT, TRANSPORT WORKERS’ UNION, AUSTRALIAN RAIL, TRAM AND BUS INDUSTRY UNION, AUSTRALIAN WORKERS’ UNION-FEDERATION OF INDUSTRIAL, MANUFACTURING AND ENGINEERING EMPLOYEES, AUSTRALIAN TRANSPORT UNION FEDERATION, AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIAN LABOR PARTY
Original article by David Crowe
The Australian – Page: 2 : 25-Feb-16
Federal Communications Minister Mitch Fifield has ruled out separate media reform bills to abolish the "reach rule" and the "two-out-of-three rule". He insists that both reforms must be presented to Parliament in a single bill. The Australian Labor Party supports scrapping the reach rule, while regional TV broadcasters want it to be abolished quickly so they can consider mergers with metropolitan networks. However, Labor wants a Senate inquiry into scrapping the two-out-of-three rule.
CORPORATES
AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, AUSTRALIAN LABOR PARTY, TEN NETWORK HOLDINGS LIMITED – ASX TEN, SEVEN WEST MEDIA LIMITED – ASX SWM, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, WIN CORPORATION PTY LTD, PRIME MEDIA GROUP LIMITED – ASX PRT, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, NATIONAL PARTY OF AUSTRALIA, FAMILY FIRST PARTY AUSTRALIA LIMITED
Original article by Amanda Saunders
The Australian Financial Review – Page: 19 & 25 : 25-Feb-16
BHP Billiton’s Australian-listed shares shed 8.2 per cent on 24 February 2016, after its London-listed stock fell by 6.05 per cent in overnight trading. The bearish sentiment followed comments by CEO Andrew Mackenzie, who forecast a sustained period of commodity price weakness and market volatility. Meanwhile, BHP has flagged the potential for acquisitions if assets of sufficient quality are put on the market, but analysts say there is likely to be strong competition for such assets.
CORPORATES
BHP BILLITON LIMITED – ASX BHP, UBS HOLDINGS PTY LTD, DEUTSCHE BANK AG, RIO TINTO LIMITED – ASX RIO, JEFFERIES AND COMPANY, FREEPORT-McMORAN COPPER AND GOLD INCORPORATED, TECK CORPORATION, FIRST QUANTUM MINERALS LIMITED, MMG LIMITED – ASX MMG, GLENCORE PLC, X2 RESOURCES PARTNERS LP, BANK OF AMERICA AUSTRALIA LIMITED, MERRILL LYNCH (AUSTRALIA) PTY LTD, SAMARCO MINERACAO SA
Original article by Jenny Wiggins
The Australian Financial Review – Page: 13 & 18 : 24-Feb-16
Shares in ports and rail group Asciano closed $A0.14 higher at $A9.01 on 23 February 2016, after its two suitors joined forces to propose a combined offer of $A9.28 per share. Qube Holdings and Brookfield Infrastructure Partners have been engaged in a long-running takeover play for Asciano, but their new proposal would result in them each holding a 50 per cent stake in the Patrick ports division. Their consortium partners would in turn acquire the Pacific National rail arm.
CORPORATES
ASCIANO LIMITED – ASX AIO, QUBE HOLDINGS LIMITED – ASX QUB, BROOKFIELD INFRASTRUCTURE PARTNERS LP, PATRICK CORPORATION LIMITED, PACIFIC NATIONAL PTY LTD, BROOKFIELD ASSET MANAGEMENT INCORPORATED, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIAN AMALGAMATED TERMINALS PTY LTD, GLOBAL INFRASTRUCTURE PARTNERS, CANADA PENSION PLAN INVESTMENT BOARD, CIC CAPITAL CORPORATION
Original article by Tim Binsted
The Australian Financial Review – Page: 17 : 23-Feb-16
Australian-listed private health insurer NIB Holdings has posted a 2015-16 interim profit of $A43.4m, which is five per cent higher than previously. The group’s net premium revenue was up 10.5 per cent at $A781.3m, and gross margins rose from 13.4 per cent to 15.1 per cent. MD Mark Fitzgibbon says NIB would be open to acquisitions, particularly as Medibank Private and Bupa are becoming increasingly competitive.
CORPORATES
NIB HOLDINGS LIMITED – ASX NHF, MEDIBANK PRIVATE LIMITED – ASX MPL, BUPA AUSTRALIA PTY LTD, ONEPATH AUSTRALIA LIMITED, SOUTHERN CROSS HEALTH LIMITED, AUSTRALIA. DEPT OF HEALTH
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