MERGERS AND ACQUISITIONS

Professional indemnity premiums likely to rise

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Original article by Ruth Liew
The Australian Financial Review – Page: 17 : 13-Jul-15

The cost of professional indemnity insurance for Australian small and medium businesses fell by 18 per cent in 2013-14, according to BizCover. Factors such as strong competition in the sector and excess insurance capacity also resulted in premiums falling by an additional two per cent in 2014-15. However, experts note the growing trend for mergers and acquisitions in the global insurance sector, which may put upward pressure on premiums.

CORPORATES
BIZCOVER PTY LTD, MORGAN STANLEY AND COMPANY INCORPORATED, ACE INSURANCE COMPANY, CHUBB CORPORATION, WESFARMERS LIMITED – ASX WES, INSURANCE AUSTRALIA GROUP LIMITED – ASX IAG, XL GROUP, CATLIN GROUP, BERKSHIRE HATHAWAY INCORPORATED, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY

Write-downs in mining nearly erase deal value

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Original article by Mark Mulligan
The Australian Financial Review – Page: 27 : 24-Jun-15

Citigroup has warned that there may be further asset impairment charges in the global mining industry, particularly in the metallurgical and coking coal sector. The firm estimates that around 90 per cent of the value of mergers and acquisitions transacted by large mining groups since 2007 has been written off. Aluminium, iron ore and nickel assets have generated the most impairment charges over the last eight years, while Rio Tinto has the highest level of impaired assets.

CORPORATES
CITIGROUP INCORPORATED, RIO TINTO LIMITED – ASX RIO, ANGLO AMERICAN PLC, VALE SA, ALCAN INCORPORATED

Lively second half tipped for oil, gas M&A

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 40 : 2-Apr-15

Wood Mackenzie has forecast an upturn in mergers and acquisitions activity in the oil and gas sector in the second half of 2015, due to the downturn in the crude oil price. The price of Brent crude oil was trading at around $US55 per barrel on 1 April, compared with $US115 in mid-2014. Wood Mackenzie also expects growth in demand for LNG in Asia to slow in response to the falling price of oil

CORPORATES
WOOD MACKENZIE, WOODSIDE PETROLEUM LIMITED – ASX WPL