It’s the time of year when investment bankers need three eyes: one to get that final deal over the line for this year, one for next year’s pipeline, and the third to keep on top of bonus discussions.
In M&A, it will be a big few weeks for infrastructure auctions. Processes for Ausgrid, GeelongPort, Intellihub and Macarthur Wind Farm will come to a head, while first-round bids land for VicRoads and Waste Management New Zealand.
It’s also a big few weeks for Crown Resorts. If it wants a quick deal, then Blackstone has given it the perfect out, and at a daring price.
In Street Talk tomorrow, we look at Blackstone’s pitch, which was about execution as much as price. In its eyes, it’s the only bidder that can finalise a Crown deal in the coming six months, let alone 12 months.
Blackstone could firm up its $9.3 billion bid for Crown Resorts by Christmas and pay Crown shareholders by Easter, making it the only bidder in the world that could be ready to transact within the next 12 months.
Private equity group Catalyst Investment Managers is seeking a buyer for its frozen ready meals business Vesco as part of a wider strategic review run by boutique M&A firm Allier Capital.
Morgan Stanley will spearhead a six-bank syndicate tasked with funding private equity group EQT’s $2.3 billion acquisition of cancer services provider Icon Group.
