Street Talk First Look

Sunday

October 31, 2021

Street Talk

First Look

Good evening,

The Melbourne Cup’s sure to break this week in half, but there will still be some big deal news around on Monday morning.

As we revealed, Brookfield and AusNet Services spent the weekend locked in takeover talks, with the big Canadian upping its offer in a bid to get firmly in front of rival suitor APA Group.

Brookfield and AusNet were talking about a deal at more than $2.60 a security, which would value AusNet at more than $18 billion including debt.

The two sides were expected to have a binding signed deal by Monday morning, which would likely see APA Group punted from AusNet’s data room.

It’s sure to have the fireworks flying, again, and will put pressure on APA Group to drum up a higher bid of its own, or walk away.

Elsewhere, we take a look at what bankers and fundies are watching for at this week’s COP26, and check in on the last few IPO contenders of the year.

Happy reading,

Anthony, Yolanda and Kanika

Street Talk editors

Tomorrow’s headlines

Brookfield ups bid for AusNet Services, gets agreed deal

Canada’s Brookfield is set to sign a binding deal to acquire Australia’s AusNet Services after increasing its all-cash offer to more than $18 billion, including debt.

Banks, funds watch Glasgow for carbon market big bang

Investment bankers are not always the bleeding heart types to voluntarily tune into climate change talks, but there’s plenty of eyes on Glasgow this week knowing it could help drum up some lucrative new business.

Compare Club eyes ASX float at $175m market cap

Time is ticking for the remaining companies still out pitching to investors with hopes of coming to market before Christmas.

Investors ready for REIT raising, slowdown on cards

The Melbourne Cup’s expected to put a bit of a dampener on equity capital markets deals this week, with investors calling for a much-needed deal slowdown heading into the Christmas break.

Macquarie Group raising clears at $194

Macquarie Group has confirmed its status as one of the country’s best equity raisers, pricing its $1.5 billion placement at a tiny 1.9 per cent discount.

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