Good morning,

Hungry?

Get yourself down to the Global Value Fund AGM at One Farrer on Thursday where Miles Staude and Emma Davidson are putting on quite the spread.

On the menu, sent to shareholders last week: avo on toast with cherry tomatoes, feta, pickled onion and chilli lime salt; mini spinach and feta quiches with caramelised mushroom and zucchini; scones with jam and cream – and for the gluten-free among you, cocoa granola and seasonal fruit pots.

With the cost of a coffee and a brekky burger at my local hitting $23, this sounds like a pretty good deal. At most AGMs, you’d be lucky to score more than tea and biscuits (bar maybe Coles and Maggie Beer).

It also might not be a bad idea to get down and hear from an activist investor who turned the tables on hedge fund billionaires Daniel Loeb and Nelson Peltz last year. GVF also has some interesting holdings including a UK-listed music royalty company Hipgnosis Song, aircraft leasing firm Amedeo Air Four Plus (with a 15 per cent dividend yield) and Keybridge Capital’s plaything, the Magellan Global Fund.

Happy reading,

• Cerberus, JF Lehman are circling Austalas JPMorgan restarts the auction.
• Sara Lee’s sales flyers have hit inboxes; bids due Dec 1.
• Samuel Terry Asset Management and Bain Capital have raided Accolade Wine’s debt stack.
• Anchorage Capital Partners has locked in $500 million-plus for Fund IV.
• Blue Ocean Equities is bulking up its corporate finance team.

• LGT Crestone is trying to nab the nation’s richest families from UBS, writes Primrose Riordan.
• Brookfield and EIG will lobby Origin Energy shareholders on the merits of their $20 billion takeover offer, writes Angela Macdonald-Smith.
• Scandinavian airline SAS has secured $US1.2 billion from a consortium for restructuring aid, Reutersreports.

Sara Lee called in the administrators in mid-October after it struggled to pass through price increases to its customers from the higher cost of doing business. The brand delivered gross annual sales around the $120 million mark in FY23.

Click here for the latest equity market wrap.