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The Australian Business Review
 

Good morning,

A deal between BHP and Anglo American is growing more likely after Anglo’s board agreed to push back the deadline for a formal offer, analysts say, as Anglo dropped its complaint that BHP’s all-scrip bid undervalues its assets.

Australia’s biggest plastics maker is set for closure by the end of the year, after Qenos’ creditors waved through its sale to property developer Logos on Thursday.

The Brisbane developer behind a bid for troubled Star Entertainment met investment fund managers to discuss a deal to break up the assets of the company and sell them to Florida-based Hard Rock International.
Perry Williams
Business editor
The markets


Making news this morning
1
Coal power station’s life extended by two years
NSW’s largest coal power station will remain open for at least two more years and could keep operating until 2029 after Origin Energy struck a deal with the state government.
2
New twist in Bonza administration saga
Bonza’s US owners have expressed interest in restructuring the airline to give it a second shot at success, administrators say.
3
Optus fights to win back trust after outage
Optus has conceded it has a long way to go in rebuilding trust with consumers after last year’s national outage, as it considers further cost-cutting at a tough time for the telco sector.
Editor's picks
MARKETS
Mini boom over as copper’s hot run falters
Copper has had a great run but the biggest one-day price fall in almost two years is as good a sign as any that the surge of the past three months has reached a plateau.
By DAVID ROGERS
MARGIN CALL
MCA joins the dots on race clash
Arts event protests aren’t exactly avant-garde but it’s taken the Museum of Contemporary Art almost a week to address Friday’s foul-mouth display, and its response leaves a lot to be desired.
By YONI BASHAN, CHRISTINE LACY
EXCLUSIVE
AI jobs commanding biggest wage premiums
Australians with AI skills are able to command a wage premium of as much as 20 per cent in some roles as PwC warns the country risks being left behind in the race for talent.
By MATT BELL
Commentary
How Bendigo is finding its inner challenger to the big banks
By ERIC JOHNSTON
Associate Editor
Marnie Baker has a plan that will give the regional bank a chance to be all things to customers – and shareholders.
Clear air ahead for Origin after Eraring deal
By GLENDA KORPORAAL
Senior writer
Frank Calabria’s deal with the NSW government to keep open Australia’s largest coal-fired power station brings an end to two years of uncertainty for Origin Energy.
Dataroom
→ Platinum runs ruler over Fletcher Building, taps Gresham
US-based private equity firm Platinum is back in Australia looking to pick up building materials assets on the cheap. But, Fletcher Building will almost certainly resist its advances — for now, anyway.
→ Cromwell’s rally gives ESR excuse to leave
Cromwell Property Group’s 8 per cent share price rally is good news for Warburg Pincus-backed ESR which has been seeking an exit strategy from the stock.
→ Amber keen to cash in on data centre demand
Fund manager Amber Infrastructure is understood to be interested in selling off its data centres while they’re in high demand.
 
 
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