MERGERS AND ACQUISITIONS – AUSTRALIA

Beston IPO to follow lobster, dairy stakes

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Original article by Simon Evans
The Australian Financial Review – Page: 20 : 9-Apr-15

Former WorleyParsons executive Sean Ebert has become CEO of Beston Global Food Company ahead of its proposed Australian sharemarket float in July 2015. Beston has also appointed GrainCorp chairman Don Taylor and formers Santos chairman Stephen Gerlach to its board. Meanwhile, it has acquired stakes in live lobster exporter Ferguson Australia and biodynamic dairy firm B.-d. Paris Creek

CORPORATES
BESTON GLOBAL FOOD COMPANY LIMITED, FERGUSON AUSTRALIA PTY LTD, B D FARM PARIS CREEK PTY LTD, GRAINCORP LIMITED – ASX GNC, WORLEYPARSONS LIMITED – ASX WOR, IOOF HOLDINGS LIMITED – ASX IFL, BELL POTTER SECURITIES LIMITED, WOOLWORTHS LIMITED – ASX WOW, COLES SUPERMARKETS AUSTRALIA PTY LTD, INDEPENDENT GROCERS OF AUSTRALIA, BESTON WINE INDUSTRY TRUST, CHALLENGER LIMITED – ASX CGF

Bradken told to engage suitors

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Original article by Amanda Saunders, Sarah Thompson, Anthony Macdonald
The Australian Financial Review – Page: 15 : 7-Apr-15

Shares in Bradken closed at $A2.29 on 2 April 2015. The stock peaked at $A2.35 in response to revelations that Pacific Equity Partners and Koch Industries had made a takeover offer pitched at $A2.50 per share. The former had previously joined forces with Bain Capital to offer $A5.10 per share for the mining services group. Bradken directors have spurned the latest offer, arguing that it is too low

CORPORATES
BRADKEN LIMITED – ASX BKN, PACIFIC EQUITY PARTNERS PTY LTD, KOCH INDUSTRIES INCORPORATED, BAIN CAPITAL LLC, BLACKROCK INVESTMENT MANAGEMENT (AUSTRALIA) LIMITED, LEGG MASON ASSET MANAGEMENT AUSTRALIA LIMITED

Vail Resorts buys Perisher

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Original article by Robert Harley
The Australian Financial Review – Page: 13 : 1-Apr-15

James Packer and Luca and Guido Belgiorno-Nettis have sold the Perisher ski resort in New South Wales to US-based Vail Resorts. The $A176.6m deal is subject to approval from the State Government. Vail has indicated that people who buy Perisher’s Freedom Pass will also be able to use the group’s North America ski resorts. Perisher has been owned by a joint venture between the Packer and Belgiorno-Nettis families since 1995

CORPORATES
PERISHER BLUE PTY LTD, VAIL RESORTS INCORPORATED, TRANSFIELD CORPORATE PTY LTD

Allegro buys The Ghan and Indian Pacific trains

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Original article by Simon Evans
The Australian Financial Review – Page: 20 : 31-Mar-15

Allegro Funds has paid an undisclosed price for Great Southern Rail, which operates iconic Australian train services The Ghan and The Indian Pacific. The vendor was Serco, which has owned Great Southern Rail since 1999. International tourists account for around 25 per cent of passengers on the two trains, and Allegro MD Adrian Loader anticipates continued strong growth in demand for upmarket rail travel

CORPORATES
ALLEGRO FUNDS PTY LTD, GREAT SOUTHERN RAIL, SERCO GROUP PLC, LONDON STOCK EXCHANGE, CUSTOM COACHES

Bankers pick plenty of M&A in 2015

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Original article by Joyce Moullakis
The Australian Financial Review – Page: 25 : 26-Mar-15

Data from Dealogic shows that mergers and acquisitions activity involving Australian companies has topped $US32bn ($A40bn) so far in 2015. Major deals have included the acquisition of Toll Holdings by Japan Post and the proposed merger between Federation Centres and Novion Property Group. Geoff Joyce of Macquarie Capital is upbeat about the outlook for M&A activity, while Simon Ranson of JP Morgan notes that deal-making is being spurred on by reduced financing costs

CORPORATES
DEALOGIC (AUSTRALIA) PTY LTD, TOLL HOLDINGS LIMITED – ASX TOL, JAPAN POST, FEDERATION CENTRES – ASX FDC, NOVION PROPERTY GROUP – ASX NVN, MACQUARIE CAPITAL PTY LTD, IFM INVESTORS PTY LTD, INDIANA TOLL ROAD CONCESSION COMPANY, KKR AND COMPANY LP, KOHLBERG KRAVIS ROBERTS AND COMPANY, VARDE PARTNERS INCORPORATED, DEUTSCHE BANK AG, GE CAPITAL CORPORATION, PACIFIC EQUITY PARTNERS PTY LTD, BAIN CAPITAL LLC, BRADKEN LIMITED – ASX BKN, UBS HOLDINGS PTY LTD, MORGAN STANLEY REAL ESTATE INVESTING, INVESTA PROPERTY GROUP, MORGAN STANLEY AUSTRALIA LIMITED, MACQUARIE GROUP LIMITED – ASX MQG, GPT GROUP – ASX GPT, MOELIS AND COMPANY, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, ESANDA FINANCE CORPORATION LIMITED, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB

Bankers pick plenty of M&A in 2015

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Original article by Joyce Moullakis
The Australian Financial Review – Page: 25 : 26-Mar-15

Data from Dealogic shows that mergers and acquisitions activity involving Australian companies has topped $US32bn ($A40bn) so far in 2015. Major deals have included the acquisition of Toll Holdings by Japan Post and the proposed merger between Federation Centres and Novion Property Group. Geoff Joyce of Macquarie Capital is upbeat about the outlook for M&A activity, while Simon Ranson of JP Morgan notes that deal-making is being spurred on by reduced financing costs

CORPORATES
DEALOGIC (AUSTRALIA) PTY LTD, TOLL HOLDINGS LIMITED – ASX TOL, JAPAN POST, FEDERATION CENTRES – ASX FDC, NOVION PROPERTY GROUP – ASX NVN, MACQUARIE CAPITAL PTY LTD, IFM INVESTORS PTY LTD, INDIANA TOLL ROAD CONCESSION COMPANY, KKR AND COMPANY LP, KOHLBERG KRAVIS ROBERTS AND COMPANY, VARDE PARTNERS INCORPORATED, DEUTSCHE BANK AG, GE CAPITAL CORPORATION, PACIFIC EQUITY PARTNERS PTY LTD, BAIN CAPITAL LLC, BRADKEN LIMITED – ASX BKN, UBS HOLDINGS PTY LTD, MORGAN STANLEY REAL ESTATE INVESTING, INVESTA PROPERTY GROUP, MORGAN STANLEY AUSTRALIA LIMITED, MACQUARIE GROUP LIMITED – ASX MQG, GPT GROUP – ASX GPT, MOELIS AND COMPANY, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, ESANDA FINANCE CORPORATION LIMITED, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB

TPG’s Teoh pledges to keep best of iiNet

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Original article by David Ramli
The Australian Financial Review – Page: 17 & 22 : 25-Mar-15

TPG Telecom has posted a 2014-15 interim net profit of $A106.7m, which is 18 per cent higher than previously. Meanwhile, executive chairman David Teoh says the group’s $A1.4bn takeover offer for iiNet is "compelling". He has responded to criticism from some iiNet shareholders by stressing that the target’s customer service will not be affected if the bid succeeds. He also says it is too early to know the extent of any job cuts at iiNet

CORPORATES
TPG TELECOM LIMITED – ASX TPM, IINET LIMITED – ASX IIN, BT INVESTMENT MANAGEMENT LIMITED – ASX BTT, TELSTRA CORPORATION LIMITED – ASX TLS

iiNet founder tries to kill $1.4b TPG bid

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Original article by David Ramli
The Australian Financial Review – Page: 1 & 8 : 24-Mar-15

Investors who hold about 14 per cent of iiNet’s shares believe that the $A1.4bn takeover offer from TPG Telecom undervalues the group. The dissenters include iiNet founder Michael Malone, who holds about 2.5 per cent of the telco’s shares. He has criticised iiNet chairman Michael Smith for failing to consult with shareholders until 10 days after the bid was made, and says the majority of iiNet’s board should be ousted in favour technology entrepreneurs

CORPORATES
IINET LIMITED – ASX IIN, TPG TELECOM LIMITED – ASX TPM, BT INVESTMENT MANAGEMENT LIMITED – ASX BTT, SINGTEL OPTUS PTY LTD, SINGAPORE TELECOMMUNICATIONS LIMITED – ASX SGT

iiNet chairman to meet irate investors

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Original article by Jemima Whyte, David Ramli
The Australian Financial Review – Page: 15 : 23-Mar-15

A number of iiNet shareholders have expressed concern that TPG Telecom’s $A1.4bn takeover offer undervalues the group. Australian-listed iiNet will hold meetings with shareholders in the next week, while chairman Michael Smith will discuss the proposed merger with investors on 23 March 2015. However, some investors – particularly those who hold shares in both groups – are in favour of the deal

CORPORATES
IINET LIMITED – ASX IIN, TPG TELECOM LIMITED – ASX TPM, BT INVESTMENT MANAGEMENT LIMITED – ASX BTT, M2 GROUP LIMITED – ASX MTU, SINGTEL OPTUS PTY LTD, AUSTRALIAN INSTITUTE OF COMPANY DIRECTORS, AZURE CAPITAL PARTNERS LP

Corbett on mergers, mistakes, News

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Original article by Dominic White
The Australian Financial Review – Page: 30 : 23-Mar-15

Fairfax Media chairman Roger Corbett has welcomed proposed changes to Australia’s cross-media ownership laws. Corbett says Fairfax is in a strong position to participate in any rationalisation of the media industry, adding that there would be significant economies of scale from Fairfax merging with a TV network. Meanwhile, Corbett has stressed that the print editions of Fairfax’s major newspapers are not under threat, and concedes that the group should have bought Carsales.com in 2006

CORPORATES
FAIRFAX MEDIA LIMITED – ASX FXJ, CARSALES.COM LIMITED – ASX CRZ, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, AUSTRALIA. DEPT OF COMMUNICATIONS, TEN NETWORK HOLDINGS LIMITED – ASX TEN, NINE NETWORK AUSTRALIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, SEVEN NETWORK LIMITED, SEVEN WEST MEDIA LIMITED – ASX SWM, WOOLWORTHS LIMITED – ASX WOW, DOMAIN.COM.AU, AUSTEREO GROUP LIMITED