Carsales.com,Australia’s largest vehicle marketplace,will acquire Trader Interactive for $1.7 billion.
Brambles investors are already warming to the prospect of a takeover,after the company’s shares soared as much as 13 per cent on Monday following confirmation that the pallet supplier has been in preliminary talks with private equity giant CVC.
AMP chief executive Alexis George has thanked shareholders for their patience and committed to returning funds to investors after completing the sale of its funds management business in a deal with a US investor.
Pendal has rejected Perpetual’s takeover bid,claiming it undervalues the company,before unveiling a $100 million share buyback and reporting sliding funds under management.
Giant super fund signs another deal to expand access to telco poles and wires and cash in on the rising demand for mobile connectivity.
The controversial investment technique will remain a core strategy for the new VGI-Regal business,which will be fully merged and listed on the ASX under a new ticker in coming months.
Australia’s mergers and acquisitions boom is set to roll on as major corporates deal with massive cash piles that have swollen further while they generated strong-than-expected profits in the first half of this year.
Zip says the deal will lift its scale and accelerate its path to profitability,as it faces tougher industry conditions.
The country’s worst performing default superannuation fund has been forced to exit the industry,after mounting pressure from the prudential regulator over chronic underperformance.
Activist superannuation fund Future Super has announced a deal with global insurer Aon’s superannuation business as CEO Simon Sheikh flags more deals on its radar.
The two super funds have signed a memorandum of understanding after leadership turmoil at EISS Super and pressure from the regulator.