MERGERS AND ACQUISITIONS – AUSTRALIA

Creasy still ‘very happy’ with Independence bid for Sirius

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Original article by Tess Ingram
The Australian Financial Review – Page: 20 : 5-Aug-15

Sirius Resources’ shareholders will vote on the proposed takeover offer from Independence Group in September 2015. The sharp fall in the suitor’s share price since the bid was revealed in May has significantly reduced the implied value of the bid. Mark Creasy, who holds a 35 per cent stake in Sirius, says he continues to support the bid and adds that there is no indication that a rival bid for Sirius will emerge.

CORPORATES
SIRIUS RESOURCES NL – ASX SIR, INDEPENDENCE GROUP NL – ASX IGO, DIGGERS AND DEALERS FORUM

Creasy still ‘very happy’ with Independence bid for Sirius

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Original article by Tess Ingram
The Australian Financial Review – Page: 20 : 5-Aug-15

Sirius Resources’ shareholders will vote on the proposed takeover offer from Independence Group in September 2015. The sharp fall in the suitor’s share price since the bid was revealed in May has significantly reduced the implied value of the bid. Mark Creasy, who holds a 35 per cent stake in Sirius, says he continues to support the bid and adds that there is no indication that a rival bid for Sirius will emerge.

CORPORATES
SIRIUS RESOURCES NL – ASX SIR, INDEPENDENCE GROUP NL – ASX IGO, DIGGERS AND DEALERS FORUM

Ten deal could give News Corp huge sports power

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Original article by Max Mason, John Stensholt
The Australian Financial Review – Page: 3 : 4-Aug-15

There are concerns that Ten Network’s proposed equity alliance with Foxtel could give the free-to-air network an advantage over rivals in negotiations for sports broadcasting rights. There are also fears that News Corporation could gain significant control over sports broadcasts, as it owns a 50 per cent stake in Foxtel and completely owns Fox Sports. Foxtel proposes to acquire a 15 per cent stake in Ten.

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, FOXTEL MANAGEMENT PTY LTD, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, FOX SPORTS AUSTRALIA PTY LTD, TELSTRA CORPORATION LIMITED – ASX TLS, AUSTRALIAN FOOTBALL LEAGUE, NATIONAL FOOTBALL LEAGUE, NINE NETWORK AUSTRALIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, SEVEN NETWORK LIMITED, SEVEN WEST MEDIA LIMITED – ASX SWM, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION

Miners pin hopes on gold-led resurgence

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Original article by Tess Ingram
The Australian Financial Review – Page: 11 & 16 : 3-Aug-15

Mergers and acquisitions activity in the global mining sector topped $A4.2trn in 2014, according to data from Dealogic. In contrast, there were just $A77.6bn worth of deals involving Australian mining companies and assets. However, a number of recent deals in the local gold mining sector has boosted optimism about the outlook for M&A activity, particularly in the gold industry. Hayden Bairstow of Macquarie Group expects M&A to be a hot topic during the upcoming Diggers & Dealers conference.

CORPORATES
DEALOGIC (AUSTRALIA) PTY LTD, MACQUARIE GROUP LIMITED – ASX MQG, DIGGERS AND DEALERS FORUM, NORTHERN STAR RESOURCES LIMITED – ASX NST, EVOLUTION MINING LIMITED – ASX EVN, OCEANAGOLD CORPORATION – ASX OGC, NEWMONT MINING CORPORATION, BARRICK GOLD CORPORATION, ROMARCO MINERALS INCORPORATED, ANTOFAGASTA PLC, METALS X LIMITED – ASX MLX, RNI NL – ASX RNI, PANORAMIC RESOURCES LIMITED – ASX PAN, TANAMI GOLD NL – ASX TAM, ARGONAUT SECURITIES PTY LTD, PCF CAPITAL GROUP PTY LTD, LION SELECTION GROUP LIMITED – ASX LSX, DORAY MINERALS LIMITED – ASX DRM, MUTINY GOLD LIMITED, ERNST AND YOUNG

Sumitomo deal wide of the mark

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Original article by Perry Williams
The Australian Financial Review – Page: 19 : 31-Jul-15

Australian-listed Stanmore Coal has paid just $A1 for the Isaac Plains coal mine in Queensland’s Bowen Basin. Japan-based Sumitomo had paid $A430m for Aquila Resources’ 50 per cent stake in the mine in 2011. The downturn in coal prices prompted joint owners Sumitomo and Vale to mothball the mine in September 2014 and put it on the market. Stanmore aims to resume production at Isaac Plains in the first six months of 2016.

CORPORATES
STANMORE COAL LIMITED – ASX SMR, AQUILA RESOURCES LIMITED, SUMITOMO CORPORATION, VALE SA, SHANGHAI BAOSTEEL GROUP CORPORATION, AURIZON HOLDINGS LIMITED – ASX AZJ

iiNet founder Malone yields to TPG Telecom

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Original article by Tess Ingram, David Ramli
The Australian Financial Review – Page: 13 & 18 : 28-Jul-15

Some 95 per cent of votes cast at a meeting of iiNet shareholders on 27 July 2015 were in favour of TPG Telecom’s $A1.56bn takeover bid. Michael Malone says the suitor is paying a good price for the ISP he founded in 1993. Malone had rejected TPG’s first cash-only bid, and says iiNet directors had done well to gain a better deal for shareholders. The takeover will make TPG the second-largest broadband provider in Australia, with about 1.7 million customers.

CORPORATES
IINET LIMITED – ASX IIN, TPG TELECOM LIMITED – ASX TPM, TELSTRA CORPORATION LIMITED – ASX TLS, SINGTEL OPTUS PTY LTD, M2 GROUP LIMITED – ASX MTU, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, MERLON CAPITAL PARTNERS PTY LTD, DEUTSCHE BANK AG

Australia may miss out on global M&A frenzy

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Original article by Joyce Moullakis
The Australian Financial Review – Page: 16 : 24-Jul-15

Some $US2.28trn ($A3.09trn) worth of global mergers and acquisitions were announced during the first half of 2015, according to data from Dealogic. This includes 31 deals worth at least $US10bn. However, M&A activity in Australia has totalled just $US56.9bn so far in 2015, and David Friedlander of law firm King & Wood Mallesons describes the level of local activity as "disappointing". Grant Chamberlain of Bank of America Merrill Lynch says five local deals worth at least $A5bn were announced during the first half.

CORPORATES
KING AND WOOD MALLESONS, BANK OF AMERICA AUSTRALIA LIMITED, MERRILL LYNCH (AUSTRALIA) PTY LTD, TOLL HOLDINGS LIMITED, ASCIANO LIMITED – ASX AIO, FEDERATION CENTRES – ASX FDC, NOVION PROPERTY GROUP, BROOKFIELD ASSET MANAGEMENT INCORPORATED, GREENHILL AND COMPANY, GRESHAM PARTNERS LIMITED

PureProfile raises $12 million to buy Sparc ahead of IPO

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Original article by Rose Powell
The Australian Financial Review – Page: 18 : 20-Jul-15

Market research firm PureProfile expects to post revenue of $A20.6m in 2015 and $A28.1m in 2016. The firm is slated to list on the Australian sharemarket on 29 July 2015, following a $A12m IPO. Proceeds of the float will be used to expand the PureProfile business, which is based on paying consumers to complete surveys online. PureProfile will also acquire a media trading company called Sparc and open an office in New Zealand.

CORPORATES
PUREPROFILE LIMITED – ASX PPL, SPARC MEDIA, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, WALT DISNEY COMPANY, FITNESS FIRST AUSTRALIA PTY LTD, BLUE OCEAN EQUITIES PTY LTD

nib snares World Nomads

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Original article by Tim Binsted
The Australian Financial Review – Page: 24 : 9-Jul-15

Australian-listed NIB Holdings has expanded into the travel insurance market with a $A95m deal to buy World Nomads Group. NIB MD Mark Fitzgibbon says World Nomads will complement the group’s core private health insurance business. World Nomads specialises in the distribution of travel insurance policies, and boasted normalised EBITDA of $A10m and revenue of $A117m in 2014-15.

CORPORATES
NIB HOLDINGS LIMITED – ASX NHF, WORLD NOMADS GROUP PTY LTD, FLIGHT CENTRE TRAVEL GROUP LIMITED – ASX FLT, CITIGROUP PTY LTD, AIRBNB INCORPORATED, TRAVEL INSURANCE DIRECT PTY LTD, SURESAVE TRAVEL INSURANCE, LONELY PLANET PUBLICATIONS PTY LTD, JP MORGAN AUSTRALIA LIMITED, KING AND WOOD MALLESONS

Oz Minerals poised to pounce: Citi

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Original article by Tess Ingram
The Australian Financial Review – Page: 17 : 7-Jul-15

Citigroup has identified a number of Australian-listed mining groups that could potentially pursue acquisitions in the near-term. They include OZ Minerals, Independence Group, Iluka Resources, Mount Gibson Iron and South32. Citigroup also believes that there is the potential for South32 to become a takeover target, along with Sandfire Resources, Whitehaven Coal, Western Areas, Iluka Resources and Regis Resources.

CORPORATES
CITIGROUP PTY LTD, OZ MINERALS LIMITED – ASX OZL, INDEPENDENCE GROUP NL – ASX IGO, ILUKA RESOURCES LIMITED – ASX ILU, MOUNT GIBSON IRON LIMITED – ASX MGX, SOUTH32 LIMITED – ASX S32, SANDFIRE RESOURCES NL – ASX SFR, WHITEHAVEN COAL LIMITED – ASX WHC, WESTERN AREAS LIMITED – ASX WSA, REGIS RESOURCES LIMITED – ASX RRL, EVOLUTION MINING LIMITED – ASX EVN, OCEANAGOLD CORPORATION – ASX OGC, BARRICK GOLD CORPORATION, LA MANCHA RESOURCES INCORPORATED, KENMARE RESOURCES PLC, X2 RESOURCES PARTNERS LP, GLENCORE PLC, RIO TINTO LIMITED – ASX RIO, NORTH LIMITED, ALCAN INCORPORATED, RIVERSDALE MINING LIMITED