MERGERS AND ACQUISITIONS – AUSTRALIA

Ten’s fate hinges on celebrities in the wild

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Original article by Darren Davidson
The Australian – Page: 19 : 23-Jan-15

Beverley McGarvey, chief programming officer at Ten Network, is confident a local version in Australia of "I’m a Celebrity… Get Me Out of Here!" will generate good audience ratings for the listed free-to-air TV group. The format is being imported from ITV in the UK, where it continues to perform strongly after 14 seasons. McGarvey also claims not to be distracted by the current takeover battle for Ten, as major investor Bruce Gordon opposed an offer by Foxtel and Discovery Communications despite it being backed by fellow shareholders Lachlan Murdoch and James Packer

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, FOXTEL MANAGEMENT PTY LTD, DISCOVERY COMMUNICATIONS INCORPORATED, WIN CORPORATION PTY LTD, TIME WARNER INCORPORATED, WARNER BROS, ITV NETWORK LIMITED, ITV PLC

Murray report to lead to more M&A activity

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Original article by Michael Bennet
The Australian – Page: 20 : 22-Jan-15

Data from Thomson Reuters shows that the value of mergers and acquisitions in Australia’s financial services sector topped $US54bn in 2014, which is 52 per cent higher than previously. Meanwhile, the value of equity capital market deals rose by 14 per cent to $US5bn. Market watchers anticipate further deal-making activity in 2015, with some citing the upcoming release of the final report of the financial system inquiry as a key factor

CORPORATES
THOMSON REUTERS PLC, WESFARMERS LIMITED – ASX WES, MEDIBANK PRIVATE LIMITED – ASX MPL, QBE INSURANCE GROUP LIMITED – ASX QBE, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, ESANDA FINANCE CORPORATION LIMITED, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, LLOYDS BANKING GROUP PLC, INVESTEC BANK (AUSTRALIA) LIMITED, GE CAPITAL AUSTRALIA, MORGAN STANLEY AUSTRALIA LIMITED, WESTPAC BANKING CORPORATION – ASX WBC, ST GEORGE BANK LIMITED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, BANK OF WESTERN AUSTRALIA LIMITED, AMP LIMITED – ASX AMP, AXA ASIA PACIFIC HOLDINGS LIMITED, CREDIT SUISSE (AUSTRALIA) LIMITED, GOLDMAN SACHS AND PARTNERS AUSTRALIA PTY LTD, CITIGROUP PTY LTD, CLYDESDALE BANK PLC, INSURANCE AUSTRALIA GROUP LIMITED – ASX IAG, IOOF HOLDINGS LIMITED – ASX IFL, SFG AUSTRALIA LIMITED

Ratings lift Ten’s hopes of new deal

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Original article by Darren Davidson
The Australian – Page: 18 : 20-Jan-15

Coverage of the Twenty20 Big Bash League cricket competition has boosted the audience ratings of commercial free-to-air TV group Ten Network, to a 10-year high of 730,000 for the summer 2014-15 season. The gain of 5.9% in the 25-to-54-year-olds age bracket will strengthen Ten’s position as it resumes takeover talks with suitors such as Anchorage Capital, Saban Capital, and a consortium of Foxtel and Discovery Communications. The latter are offering $A0.23 a share

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, CRICKET AUSTRALIA, DISCOVERY COMMUNICATIONS INCORPORATED, FOXTEL MANAGEMENT PTY LTD, SABAN CAPITAL GROUP INCORPORATED, ANCHORAGE CAPITAL PARTNERS PTY LTD, OZTAM PTY LTD, KFC, YUM! RESTAURANTS AUSTRALIA PTY LTD, SEVEN WEST MEDIA LIMITED – ASX SWM, FAIRFAX MEDIA LIMITED – ASX FXJ, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC

Japanese HR giant to pay $290m for Chandler Macleod

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Original article by David Ramli, Jake Mitchell
The Australian Financial Review – Page: 11 : 15-Jan-15

The consolidation in Australia’s recruitment sector is continuing, with Japan-based Recruit Holdings securing a deal to acquire Chandler Macleod. Recruit will pay $A290m for the listed company, which has a market capitalisation of about $A165m. Recruit will also acquire Peoplebank, which specialises in IT recruitment. Peoplebank CEO Peter Acheson says it will continue to operate as a separate business

CORPORATES
CHANDLER MACLEOD GROUP LIMITED – ASX CMG, RECRUIT HOLDINGS COMPANY LIMITED, PEOPLEBANK AUSTRALIA LIMITED, NAVIS CAPITAL PARTNERS LIMITED, SKILLED GROUP LIMITED – ASX SKE, PROGRAMMED MAINTENANCE SERVICES LIMITED – ASX PRG, GREENHILL AND COMPANY

Chinese buyers eyeing food, dairy, says UBS

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Original article by Anthony Macdonald
The Australian Financial Review – Page: 11 & 18 : 14-Jan-15

David Chin of UBS expects Chinese companies to become more active in acquiring assets in Australia’s agribusiness sector. Chin notes that the issue of food security is becoming increasingly important in China, which is likely to prompt greater interest in Australia’s food and dairy products sectors, as well as rural properties. Chin also expects Chinese groups to be interested in the privatisation of Queensland and New South Wales electricity assets

CORPORATES
UBS AG, DEALOGIC (AUSTRALIA) PTY LTD, STATE GRID CORPORATION OF CHINA, UBS HOLDINGS PTY LTD, DEUTSCHE BANK AG

Oil plunge will stir M&A when price settles

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 11 & 16 : 12-Jan-15

Santos, Senex Energy and Horizon Energy are among the Australian companies whose share prices have fallen sharply in response to the downturn in the crude oil price. Experts say lower valuations in the oil and gas sector is likely to prompt mergers and acquisitions activity, although some suggest that potential suitors will bide their time as the oil price and shares may fall further. The price of Brent oil closed at $US50.11 per barrel on 9 January 2015

CORPORATES
SANTOS LIMITED – ASX STO, SENEX ENERGY LIMITED – ASX SXY, HORIZON OIL LIMITED – ASX HZN, BEACH ENERGY LIMITED – ASX BPT, HERBERT SMITH FREEHILLS PTY LTD, TOTAL SA, INPEX CORPORATION, ROC OIL COMPANY LIMITED – ASX ROC, FOSUN INTERNATIONAL LIMITED, DRILLSEARCH ENERGY LIMITED – ASX DLS, AMBASSADOR OIL AND GAS LIMITED – ASX AQO, MAGNUM HUNTER RESOURCES CORPORATION, NIDO PETROLEUM LIMITED – ASX NDO, BANGCHAK PETROLEUM PCL, METGASCO LIMITED – ASX MEL, ELK PETROLEUM LIMITED – ASX ELK, BP PLC, BP AMOCO PLC, EXXONMOBIL CORPORATION, CHEVRON CORPORATION, TEXACO INCORPORATED, BERNSTEIN AND ASSOCIATES, BRIGHTOIL PETROLEUM, HARBOUR ENERGY LIMITED, TEMASEK HOLDINGS (PTE) LTD, PAVILION ENERGY PTE LTD

Fairfax plans triple treat of deals before tackling free-to-air TV merger

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Original article by Darren Davidson
The Australian – Page: 17 : 19-Dec-14

Insiders claim that Fairfax Media is preparing a suite of divestments to prepare itself for a merger in 2015 with a free-to-air TV network. The newspaper publishing group will combine most of its radio assets, which under current media ownership laws prevent it from joining a TV broadcaster, with those of rival Macquarie Radio in a move worth $A200m. Fairfax CEO executive Greg Hywood also wants APN News & Media’s Australian Radio Network to acquire his company’s Perth station. At the same time Fairfax is about to pay $A75m for the remaining stake in ­Melbourne business Metro Media Publishing

CORPORATES
FAIRFAX MEDIA LIMITED – ASX FXJ, MACQUARIE RADIO NETWORK LIMITED – ASX MRN, APN NEWS AND MEDIA LIMITED – ASX APN, AUSTRALIAN RADIO NETWORK PTY LTD, METRO MEDIA PUBLISHING PTY LTD, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, TEN NETWORK HOLDINGS LIMITED – ASX TEN, MACQUARIE BANK LIMITED – ASX MBL, CITIGROUP PTY LTD

Ten’s fate in reclusive billionaire’s hands

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Original article by Darren Davidson
The Australian – Page: 17 : 18-Dec-14

Takeover target Ten Network staged its AGM on 17 December 2014, which was attended by 15% stakeholder Bruce Gordon. He is the largest individual investor in the free-to-air TV group, which has received an offer worth $A590m or $A0.23 a share from pay TV provider Foxtel and US ally Discovery Communications. Other major stockholders who would need to support the deal are mining heiress Gina Rinehart with 10%, as well as respective News Corporation and Crown ­Resorts chairs Lachlan Murdoch and James Packer. Possible rival suitors for Ten are Anchorage Capital and Saban Capital

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, WIN CORPORATION PTY LTD, FOXTEL MANAGEMENT PTY LTD, DISCOVERY COMMUNICATIONS INCORPORATED, ANCHORAGE CAPITAL PARTNERS PTY LTD, SABAN CAPITAL GROUP INCORPORATED, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, CROWN RESORTS LIMITED – ASX CWN

Ten battle delays AFL talks

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Original article by Darren Davidson
The Australian – Page: 19 : 17-Dec-14

The negotiations on the new broadcasting rights deal for Australian Football League (AFL) matches have been rescheduled for early 2015. The AFL Commission, keen to maximise the potential gains, will wait for the current takeover speculation on Ten Network to be resolved. The free-to-air TV groups are set to pay between $A1.5bn and $A1.6bn in the agreement covering the next five seasons, up from $A1.258bn previously. Among Ten’s suitors is a consortium of Foxtel and Discovery Communications that has made an offer worth $A590m

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, AUSTRALIAN FOOTBALL LEAGUE, AUSTRALIAN FOOTBALL LEAGUE COMMISSION, FOXTEL MANAGEMENT PTY LTD, DISCOVERY COMMUNICATIONS INCORPORATED, SEVEN WEST MEDIA LIMITED – ASX SWM, FOX SPORTS AUSTRALIA PTY LTD, CITIGROUP PTY LTD, NATIONAL BASKETBALL ASSOCIATION

Woodside’s $4.6bn punt on LNG assets

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Original article by Paul Garvey
The Australian – Page: 26 : 17-Dec-14

Peter Coleman, CEO of Australian-listed energy group Woodside Petroleum, has announced the acquisition for $US3.75bn ($A4.6bn) combined of holdings in two LNG developments from US-based Apache Energy. Woodside will gain a 13% stake in the Wheatstone project offshore Western Australia (WA) and one of 50% in the Kitimat tenements in Canada. The deal will please investors who had been concerned at a lack of new growth assets for the company. At the same time it has, along with allies Royal Dutch Shell and BP, again postponed the roll-out of floating LNG technology at their Browse field off WA

CORPORATES
WOODSIDE PETROLEUM LIMITED – ASX WPL, APACHE ENERGY LIMITED, ROYAL DUTCH SHELL PLC, BP PLC, CHEVRON CORPORATION